Environment Agency reveals costs of flooding

Tuesday, January 19, 2010

Businesses may want to improve their facilities management to prevent flood damage.

By Ashley Brunskill

The Environment Agency has revealed the cost of the 2007 floods and businesses may want to improve their facilities management to prevent them being damaged in future.

The total cost to the country was £3.2 billion and the average cost incurred per flooded business was reported as between £75,000 and £112,000.

Robert Runcie, environment agency director of flood and coastal risk management, said: "The Environment Agency recently announced plans to protect an extra 200,000 homes and businesses in England and Wales from flooding in the five years to 2015."

However, he added that investment in the building and maintaining of flood defences will need to almost double to £1 billion a year by 2035 "to keep pace with climate change".

Underwriting manager for Aviva Mike Colmans recently suggested that businesses improve their facilities management to prevent squatters from entering their premises as it can take time and cost money for landlords to go to court to obtain interim possession orders.

Source: ask-re The Property People LLP