Flood RE The Long Term Flood Insurance Solution In The UK

In 2011, the Association of British Insurers formally recommended Flood Re as a long term flood insurance solution in the UK. After lengthy discussions between the Government and the insurance industry an outline agreement was reached in June 2013. Royal Assent was gained less than a year later in May 2014 and the ABI is working hard to get Flood Re established in the summer of 2015.

The Flood Re Scheme will be a not for profit flood reinsurance fund, owned and managed by the insurance industry and established to ensure the highest risk domestic properties can receive affordable cover for the flood element of their household property insurance.

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