We understand the Government’s argument that businesses are in a different position compared to households in respect of flood insurance cover. However, we are concerned about the position of small and medium-sized enterprises, which do not benefit from any Government-backed initiative, equivalent to Flood Re, that would smooth the transition to risk-reflective pricing. Access to affordable insurance cover is crucial for improving flood resilience, and the Government must ensure that small an...

We understand the Government’s argument that businesses are in a different position compared to households in respect of flood insurance cover. However, we are concerned about the position of small and medium-sized enterprises, which do not benefit from any Government-backed initiative, equivalent to Flood Re, that would smooth the transition to risk-reflective pricing. Access to affordable insurance cover is crucial for improving flood resilience, and the Government must ensure that small and medium-sized businesses are not disadvantaged in this regard. The Government should work with industry and stakeholders to establish, as a matter of ur Type: recommendation | Number: 27 | Response status: not_addressed Government response: The Flood Re Scheme is a joint Government and industry initiative aimed at improving the availability and affordability of flood insurance for UK households at high flood risk. Since its launch in 2016 more than 300,000 households have benefitted with 96% of