Flood Risk

Flood risk is an increasingly concerning area of property risk assessment. Global warming and more extreme weather patterns combined with a legacy of town planning that was not focused on flood risk issues, has resulted in a position where a significant amount of commercial property is at potential risk of flooding in the UK.

The implications of flood risk extend beyond the direct threats to human health and property damage and can include other significant liabilities such as business interruption and stock loss. Whilst the existing government agreement with the Association of British Insurers provides some degree of protection and immediate solution, this may not extend to all properties, insurance premiums may be increased as a result of underwriter knowledge of flood risk potential and the current government-ABI arrangement may change in the future.

To assist clients in managing these risks through the course of a property transaction, GroundSure provides the highest accuracy flood risk search reports specifically for commercial property in England and Wales comprising GroundSure Review and GroundSure Floodview.

Both reports contain the identical and highest quality data with a fully interpreted risk assessment and view on insurability. Both reports cover:

• Environment Agency tidal and river flooding
• Areas benefiting from flood defence
• Pluvial (surface water) flood risk
• Likely availability of insurance for flood risk
• Historical flood data
• Groundwater flood risk
• Access to flood risk consultants

GroundSure Floodview is available within 1 working day and costs £85+VAT up to 10 hectares. Sites >10ha POA.

GroundSure Review is available within 2 working days and costs £245+VAT up to 5 hectares. Sites >5ha POA.

GroundSure Review is the only combined environmental and flood risk search for commercial property currently available in the market. 

     

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