BPF warns that Flood Re will leave "thousands" of SMEs adrift
The British Property Federation (BPF) has warned that Flood Re will leave "thousands" of SMEs unable to afford insurance cover.
Despite welcoming the deal, which aims to provide affordable cover for residential property, the body cautioned that it could lead to "large hikes" in premiums for SMEs, with some becoming uninsurable.
SMEs have not formed part of the recently-announced deal between insurers and the government to replace the Statement of Principles.
In a statement the BPF cautioned: "SMEs are generally more vulnerable to the effects of flooding compared to larger businesses that will have contingency plans and
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