THOUSANDS of small businesses are set to benefit from a new flood insurance package announced by the British Insurance Brokers’ Association (BIBA), according to the Federation of Small Businesses (FSB).

The FSB said it had campaigned hard for a fairer deal for small businesses at risk of flooding, including working alongside BIBA to address a variety of flood insurance and resilience challenges faced by such ventures.

The group said the new BIBA flood insurance scheme should help the many small business in York and North Yorkshire who struggle to access affordable flood insurance.

The Press reported last month how Tadcaster Medical Centre was asking the Prime Minister for help after insurers refused to renew its flooding cover, after it was inundated by two feet of muddy water last Boxing Day.

Practice manager Sarah Botherway said she was hopeful the new initiative would resolve its insurance dilemma, adding: “We are hopeful of getting some sort of cover under the new scheme, so fingers crossed.”

Up to now a small but significant minority of high-risk businesses have either been refused insurance or faced unaffordable premiums or excesses – a situation the FSB said would be exacerbated by the proposed 12 per cent tax hike on insurance premiums.

Simon Williams, the FSB’s North Yorkshire regional chairman, said: “For the thousands of small businesses who currently struggle to secure affordable flood insurance, this is a welcome first step by the industry. And we are particularly pleased this scheme will recognise and reward small businesses who invest in flood resilience measures.

“Our research shows two thirds of small businesses have been affected by severe weather in recent years.

“On Boxing Day 2015 we were supporting members across the region who were sadly once again affected by dreadful floods.

“Small businesses are at the heart of our local community and economy, and they need to be able to get back on their feet as soon as possible after a flooding event.

“Small businesses were not included in the recent Flood Re scheme to protect high-risk domestic households.

"FSB has challenged Government and industry to provide a workable solution for small businesses which takes account of resilience improvements.

“BIBA has been the first to respond. They have set a new industry benchmark, providing much needed flood insurance for small businesses,” said Mr Williams

The FSB has advised any business having difficulty accessing affordable flood insurance to contact BIBA’s Find a Broker Service on 0370 950 1790.

The small business group’s members can contact FSB Insurance on 0345 76 26 158, or visit FSB Insurance Service’s website for further information.