Towergate Insurance advice for businesses to keep trading as the cold weather closes in

5th January 2012

Towergate Insurance today warns businesses to prepare against cold weather predicted over the coming winter weeks. Last winter 3500 new claims a day were being reported to UK Insurers as a result of severe weather conditions. According to the ABI the average cost of these claims was £7000 each adding up to a staggering £24,500,000 a day.

Michael Rea, Retail CEO of Towergate Insurance warned, “Winter weather can cause business operational problems and slow down normal trading. It can also cause an escape of water due to frozen pipes and tanks which can damage business premises and take months to put right. Business stock and equipment can also be ruined resulting in a loss of income whilst repairs take place, causing a great deal of stress and inconvenience during a very difficult trading period.”

So here are Towergate’s top tips to protect your business against the cold weather this winter:

  • Insulate all water pipes and tanks in the building which could be liable to freezing, particularly those in roof voids
  • Locate your main stop cock where the water enters the property - make sure all staff know where and how to stop the water in the event of an emergency.
  • Make sure someone regularly inspects the building, knows the location of the stop cock and who to contact in the event of an emergency. Early detection will help to minimise damage should pipes freeze
  • Where possible leave the heating system on, if not possible turn water off at the mains and drain the pipes and tanks
  • Make sure all employees know what to do in the event of a burst pipe or leak, have a list of emergency contacts such as plumbers easily accessible
  • Revisit your Business Continuity Plan to make sure it is up to date or create one or speak to your professional insurance advisor.
  • Consider backing up any computer records and storing them off site-what will you need to continue to run your business and support any business interruption claim
  • Ensure that any unique paper documents are protected or stored off site or copied
  • Refresh your knowledge of your areas of responsibility if you are a tenant and ensure you have emergency contact details for the landlord or managing agent
  • If the premises are unoccupied or become unoccupied you should notify your insurance advisor. Water should be turned off at the mains.

Media Contacts

Kelly-Ann Knight

Group Head of External Communications

Towergate

Mobile: 07717 866190

Email: kelly-ann.knight@towergate.co.uk