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Flood Re information


Flood Re
Founded4 April 2016; 8 years ago (2016-04-04)
HeadquartersLondon
Area served
United Kingdom
Key people
Andy Bord (CEO[1]), Mark Hoban (First chairman of the board of Directors)
ProductsReinsurance
Websitefloodre.co.uk

Flood Re (short for flood re-insurance) is a levy and pool system in the United Kingdom which replaced the Statement of Principles agreed between the government and insurance companies. It provides flood insurance coverage to domestic properties deemed at significant risk of flooding (this is generally defined as more than a 1.3% or 1 in 75 annual probability of flooding).[2] It is estimated that it will ultimately cover the most at risk 2%, or 250,000 homes, though the Centre for Climate Change Economics and Policy suggest 370,000 homes are eligible.[3][4]

  1. ^ "Flood Re appoints Andy Bord as Chief Executive". Flood Re. 13 April 2017.
  2. ^ "Revised Statement of Principles on the Provision of Flood Insurance" (PDF). gov.uk. July 2008. Retrieved 25 August 2013.
  3. ^ Hjalmarsson, Johanna (4 December 2013). "Government flood insurance plan is already treading water". The Conversation. Retrieved 11 February 2014.
  4. ^ "Government proposes future resilience measures for Flood Re". GSI Insurance. 15 March 2021. Retrieved 1 July 2021.

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