Commercial properties are the most likely to suffer from water leak or humidity damage
Water can be as damaging as Fire in a building. Water damage can also be a threat to business continuity and cause disruptions to business. Most common places for claims are blocks of flats, hotels, retail premises and outlets and commercial buildings.
It is widely acknowledged by insurers that water damage claims are the most likely claims in a commercial environment and also the most costly. With a total loss estimated to be near £800million. A data centre outage can cost a business £12,000 per minute, the stock exchange could be affected up to £4.5million and credit card clearence around £1.8million.
It is not just the cost of IT systems but also other electrical equipment, plant, fixtures and fittings, stock and of course the main fabric of the building. Businesses could have to be temporarily re-located while the water leak is cleaned up. All of this adds up to increase cost and decreased profits within a business.