Did you try swapping USB cable - you know that the stock cable from Trezor is of bad quality.

Yeah first thing I tried.

Bear in mind it still works through the web interface just not through Electrum itself at the moment.

Just to check, are you running the latest firmware on your Trezor? If not, you should try updating:
https://doc.satoshilabs.com/trezor-user/updatingfirmware.html

It doesn't look like other people are reporting the issue, so you might want to make a report at:
https://github.com/spesmilo/electrum/issues

I did see the a report that mentioned unplugging and replugging made their trezor work as shown in:
https://github.com/spesmilo/electrum/issues/2100#issuecomment-271840014