Flood Re: SMEs left at risk, say brokers

smes-flood-paddle

The British Insurance Brokers’ Association (Biba) last month responded to the Department
for Environment, Food and Rural Affairs’ (Defra) flood insurance consultation with a number of concerns.

It came after a provisional deal, Flood Re, was announced in June between insurers and the government to replace the Statement of Principles (SoP). The industry-backed levy has been designed to create a pool to support insurers when paying out on claims for high-risk homes.
High up on the list of Biba’s is

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