Business Insurance
Personal Insurance
Unlike many other industries who are able to adopt flexible modes of working, care homes cannot operate remotely. They rely upon the smooth execution of business processes not only to function, but to provide a safe and stable environment for residents with complex needs.
As a consequence, care homes are particularly vulnerable to the adverse effects of extreme weather.
Floods wipe out businesses – forever
Nearly half (40%) of small businesses who have been impacted by flooding end up shutting down, and it’s no wonder. According to Aviva, 75% of UK businesses admit that they don’t have a climate event continuity plan in place – even though a third of commercial properties are at risk from flooding.1
Even when floods have cleared, they’re still there Businesses that do recover from flooding continue to face the aftereffects long after the flood has cleared. In one study of businesses who had been impacted by flooding in the last decade, a quarter said they had experienced prolonged business disruption.2
One of the problems businesses face after being affected by a flood is mould, which can require professional intervention if the property is infected enough. This isn’t a huge issue for businesses who can operate remotely, but a mould issue in a care home would carry serious health implications for its vulnerable residents, and may even require evacuation.
Floods are on the increase
The climate in the UK is changing. As a result of global warming, not only have floods become more prevalent, but they are getting increasingly more severe.3 This trend is expected only to increase in the future.4
The question, then, isn’t whether businesses need protection against floods and other extreme weather, but rather when they’ll realise that they do. And, once they’ve had that realisation, will it be before disaster has struck?
Don’t wait until you’re stuck before taking action. Contact your usual Ethos Broker to check your cover.