Lib Dems call for Flood Protection for small businesses

December 15, 2015 4:47 PM
Originally published by UK Liberal Democrats

Tim Farron FloodsIn the aftermath of devastating flooding in Cumbria, Liberal Democrat Leader, Tim Farron, has called for the Government's flood risk insurance scheme to be extended to cover small businesses.

The 'Flood Re' scheme was created by the Coalition Government to cover people who are unable to get reasonably priced flooding insurance because they lived in a high risk area. However, the scheme will only apply to home owners and excludes small businesses when it comes in in April 2016.

Despite claims that small businesses do not struggle to get insurance, research by the Federation of Small Businesses found that 50,000 small businesses at risk of flooding had been refused cover, with 75,000 finding it difficult to get insurance at an affordable price.

Calling for an extension of the Flood Re scheme Tim said:

"As devastating as the floods have been for home owners here in Cumbria, it has been equally catastrophic for the small businesses which are the backbone of our local economy. With the impact of climate change this isn't going to be the last time communities are hit by flooding and it will become more and more difficult for small businesses to get affordable insurance.

"The Government needs to get serious about the situation we are in and extend the Flood Re scheme to small businesses, before even more see their businesses devastated by the financial cost of flooding."