Source · Select Committees · Public Accounts Committee
Recommendation 24
24
Flood Re established in 2016 to provide affordable flood insurance to householders
Conclusion
Flood Re, a joint initiative between the insurance industry and the government, was established to ensure affordable flood risk insurance is available to householders. It was established by the Water Act 2014, launched in 2016, and due to be in place until 2039. In 2022, Government implemented some changes to Flood Re to support improved flood resilience among householders.54
Government Response
A response document is linked to this report, dated 2 April 2024. Response attribution to this conclusion has not been verified. Read the response document ↗