Flood Risk I How to Protect Your Business, Even When Insurers Won’t

17 Dec

Case Study: The Prince’s Restaurant, Storm Dennis & Thomas Carroll

Baking for Generations

The Prince’s Restaurant is a well-known café and bakery on Taff Street in Pontypridd, run by the Gambarini family. For more than 70 years, the iconic eatery has offered-up hearty Welsh food and homemade cakes to families and professionals in the area. Locals would agree that the generations of success and daily bustle are not surprising – it is virtually impossible to pass Prince’s enticing windows without going in for a bite to eat.

Water Damage and a Royal Visit

As the street name suggests, the café overlooks the River Taff. In February 2020, Storm Dennis flooded large parts of the UK, destroying homes and businesses. Storm Dennis exacerbated the damage of Storm Ciara, which hit less than a week before. Pontypridd, with its location in the Welsh Valleys and proximity to the river, was one of the worst affected areas in Wales. The flood water, breached riverbanks, overflowing drainage, blocked local culverts and water run-off from surrounding areas left Taff Street under feet of water.

On the 17th February, local Claims Executive, Jon Davies, was first on site from Thomas Carroll and visited several clients in the area to offer emergency contact information and Day One Guidance. The Prince’s basement bakery, where all the cakes and bread that fuel the restaurant are made, was completely flooded. The damage was devastating and there was no means for business to continue. HRH Prince Charles inspected the damage for himself when he attended on the 21st February.

Getting Back to Business

Helen Love, Head of Claims, managed the claim on behalf of the Gambarini family from start to finish, liaising with insurers and their adjusters. To assist with the clean-up, technical restoration experts were instructed with specialist pumping and drying equipment. The scale of water penetration to the rear of Prince’s was so significant that this aspect of the remedials alone took six weeks to complete.

A longstanding client for more than 15 years, the Gambarinis had placed all commercial insurance (including property insurance, business interruption and employers & public liability) via Thomas Carroll and insurance Account Executive, Rhys Grant.

In early September, The Prince’s reopened its doors and people queued along the pavement in anticipation. It would have been open sooner had it not been for the development of Covid-19 and new restrictions, nevertheless, the café triumphed over obstacles to sell food and drink once again.

Broking Solution: Flash Flood

The existing insurance due for renewal in April was robust and included flood cover. However, the policy renewal now excluded this, and insurers were not willing to facilitate cover in an area close to a river with historic issues.

To reinforce the sheer importance of reliable insurance cover, the claims payment was a substantial amount and enabled the Gambarini family to rebuild the bakery, reinstall machinery, ensure everything met hygiene standards and re-open. The cover helped save the business.

To safeguard the future of the café, Thomas Carroll had to seek an alternative solution to what the insurance market is used to and recommended Flash Flood products.

Innovative and uncomplicated, Flash Flood install a water sensor. The height of water and required payment in the event of a claim determines the premium. The claim settlement is paid within 48 hours and no loss adjustor is needed. To put it simply, you align the premium with the necessary level of flood cover.

The availability of these products means business owners can achieve peace of mind that if the worst happens, the business will bounce back.

Are You Concerned About Future Flood Risk?

To discuss how your business is protected in the event of a flood, contact Thomas Carroll today on 02920 853788 or email contact@thomas-carroll.co.uk. We would be happy to discuss the options with you.