Biba questions new government flood agreement
The British Insurance Brokers’ Association (Biba) has responded to the Department for Environment, Food and Rural Affairs' (Defra) flood insurance consultation with concerns over a lack of cover being available for small businesses and some UK householders.
Biba said that, while it believed that the proposed model of Flood Re could work, there were questions about how that solution may be implemented.
In a written response to the consultation ‘Securing the future availability and affordability of home insurance in areas of flood risk', Biba raised questions in several areas including for small businesses, which were included in the Statement of Principles but will be excluded from Flood Re.
Biba said it believed that small businesses, particularly
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