The Government is considering Flood Protection for SME’s says David Cameron
David Cameron has confirmed the government is considering at a flood insurance solution using Flood Re for small to medium sized enterprises (SME’s).
The issue was raised by Nigel Adams, Conservative MP for Selby and Ainsty at Prime ministers Questions (PMQ’s) in the House of Commons on 27th April 2016.
According to MP Nigel Adams, he had met with a number of owners of small businesses who had been “treated appallingly” by insurers following the flooding last winter. Mr Adams asked Mr Cameron if there was going to be a similar scheme with Flood Re for small businesses.
Cameron said: “On the issue of whether we need a Flood Re style approach to small businesses, we are looking specifically at that to make sure the small businesses can get the insurance they need.”
The British Insurance Brokers’ Association has previously confirmed it is working on a solution for affordable flood insurance for businesses excluded from Flood Re.
Flood Re, which was launched on 4 April, was set up to help homeowners in high flood risk areas to find affordable insurance.