Latest flooding brings calls to extend Flood Re scheme to businesses

Regional federation says fund designed to ensure high-risk households can obtain affordable insurance should be expanded

Traders are pressing insurers to extend the scope of Flood Re, the not-for-profit fund to help households at high risk to obtain affordable flood insurance, as small business owners hit by the Christmas storms battle to keep their firms alive.

The calls came as a leading accountant said the cost of winter floods across the UK w ould top 5bn, with about a fifth of the bill falling on those with inadequate or non-existent insurance policies.