The warning comes from the British Insurance Brokers' Association (BIBA), which says UK businesses - particularly small and medium-sized ones - aren't taking the issue seriously.

Hot, dry summers and mild, wet winters are expected to increase the number of insurance claims for floods, storm damage and subsidence.

BIBA says there are a number of simple steps businesses can take to safeguard themselves:

• Regularly testing their business continuity plan to ensure it will operate in the event of a disaster.
• Ensuring that business stock is not stored directly on the floor but raised at least six inches onto racking or pallets (in case of flooding).
• Discussing the adequacy of sums insured and the extent of insurance cover with their broker.
• Moving IT servers from the ground floor to a first floor location, where appropriate (in case of flooding).
• Engaging with regional climate change groups to get access to expertise.