Historically, flooding mainly occurs in the province from January to April, although heavy rainfall sometimes persists into September to December, such as what happened in 2010. SMEs in the agriculture and mining industries often suffer the worst damage, as their losses have topped out at $1.6 billion and $2.5 billion, respectively, in the past. More recently, flood warnings in Queensland were issued on March, 2014, as many areas like Brisbane, Condamine/Balonne, and the Sunshine Coast experienced heavy rainfall from the 25th to the 27th.
Of course, there are more mundane matters that a business interruption insurance policy can protect against. For example, if flooding has bogged down Queensland’s supply and distribution chain, this policy can cover SMEs for losses due to delayed deliveries. Business interruption insurance also protects them from the unforeseen costs of relocating from one place to another, which typically include bonds and legal fees. Reliable Sunshine Coast insurance brokers can tell SMEs what kinds of risks they face, since natural disasters aren’t the only thing they should worry about.