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<p>The Flood Re scheme allows for insurers to offer discounted premiums to domestic
properties. Flood Re is funded via a levy on UK household insurers. Expanding the
scope of Flood Re to cover businesses would create a new levy on businesses, and could
result in businesses across the country, and indirectly customers, subsidising profit-making
organisations located at flood risk.</p><p> </p><p>There is no evidence of a systemic
problem for businesses at high flood risk not accessing insurance.</p><p> </p><p>Businesses
in high flood risk areas can shop around for the best insurance quote and could consider
using an appropriate broker. There are a number of products being offered to businesses
by the industry such as the British Insurers Brokers’ Association (BIBA) Commercial
Property scheme to help small and medium sized enterprises (SMEs) and provide flood
cover for those that are ineligible for Flood Re.</p><p> </p><p>We are working with
the insurance industry and the wider commercial sector to help businesses become more
resilient to flooding through the joint government and industry Property Flood Resilience
(PFR) roundtable.</p>
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