Small businesses flood insurance guide launched

A new guide has been launched to help small businesses choose flood insurance.

The Insurance for Small Businesses guide has been put together by the Association of British Insurers (ABI) in response to the high number of firms affected by last year's floods.

After last summer's flooding, the insurance industry registered more than 27,000 claims from small businesses, and paid out over £1 billion.

The new guide aims to improve risk management among small businesses and increase the uptake of appropriate insurance policies.

"Small to medium-sized firms are particularly vulnerable to the unexpected event that could bring them down," said Stephen Haddrill, director-general of the ABI.

"I urge all firms to plan for the unexpected - doing so will make the difference between survival and going under should the worst happen."

See also: MORE TH>N BUSINESS's Flood guidance for small businesses