That this House notes with concern how small business owners in flood risk areas, many of whom have seen their livelihoods and properties destroyed or damaged due to flooding, face prohibitively high insurance premiums and excesses or outright refusal from insurance companies to cover their businesses; further notes that the current Statement of Principles Agreement between the Association of British Insurers (ABI) and the Government is a guarantee to provide insurance that only addresses availability of insurance and not affordability, and its successor scheme Flood Re excludes small businesses from those it will cover; further notes with concern the consequent fear and uncertainty amongst the business community at the lack of any guarantee when Flood Re begins next year; further notes also that leaseholders as a group will be excluded from Flood Re and the anxiety this is causing; welcomes initial commitments from the Department for Environment, Food and Rural Affairs and ABI to look at evidence of the difficulties faced by small businesses in flood risk areas; and calls on the Government to take swift action by introducing a stand-alone Flood Re 2 agreement for small businesses and leaseholders which addresses both affordability and availability of insurance.