In February Lord Krebs of the Committee on Climate Change Adaptation wrote to Brendan McCafferty, CEO of Flood Re in letter entitled: ‘Designing Flood Re to encourage flood risk reduction’. The letter raised serious concerns about Flood Re – its value for money and lack of incentives to take preventive measures on flooding. To read the letter go to:
BT ‘A collaboration between the government and insurers to provide affordable flood insurance to people in high-risk areas, known as Flood Re, has been delayed until 2016. The project has been in the works since June 2013, with the intention of having it live in the second half of this year. Speaking to The Mail on Sunday, Brendan McCafferty, chief executive of Flood Re, said: “This is the first time we have said this publicly.” “It’s vitally important to get this right first time as it is a world first” he added. The scale and complexity of developing and implementing the system has been blamed for its launch being pushed back. It took until January this year for the insurance industry and government to reach an agreement on how the scheme would work.’