Flood Re consultation

Amendments to the Flood Re scheme

Defra ‘We received 118 responses to this consultation from a wide range of stakeholders. The government will now implement technical changes to improve the efficiency and effectiveness of the Flood Re scheme.

The government supports the proposals for discounted premiums and build back better. It will work with industry to ensure these are implemented successfully and in a way that helps to address some of the barriers constraining the property flood resilience market. This will allow it to grow, innovate and mature.

The consultation covered:

Defra ‘We want to know what you think about our proposed amendments to the Flood Re scheme.

The joint government and industry Flood Re scheme was designed to help households at high flood risk access affordable insurance.

The proposed changes aim to:

• improve the efficiency and effectiveness of the scheme
• support Flood Re’s purpose to manage transition to a risk-reflective flood insurance market by 2039

They include technical changes to the scheme and changes which seek to encourage greater uptake of property flood resilience among households at high risk of flooding across the UK. Click here to access