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About Flood Re

Recent large scale flood events highlight the impact of severe flooding, including the effect on those who struggle to find affordable home insurance.

Since 2000, flood insurance has been widely available to households at high risk of flooding due to a series of voluntary agreements between the Government and members of the Association of British Insurers (ABI).

These agreements did not cover the affordability of the home insurance provided, however, and so the insurance companies and the Government have been working together to develop a different way of dealing with flood insurance.  They decided on a 'flood re-insurance' scheme - known as Flood Re - to help support households at highest flood risk. An important part of the Flood Re scheme will be to offer help to people to increase their understanding of their level of flood risk and explaining how, where possible, they can take action to reduce that risk.

Flood Re will be in place for 25 years and is designed to:

  • Enable flood cover to be affordable for those households at highest risk of flooding
  • Increase availability and choice of insurers for customers
  • Allow time for the Government, local authorities, insurers and communities to become better prepared for flooding
  • Create a 'level playing field' for new entrants and existing insurers in the UK home insurance market.

Flood Re’s first annual report and financial statements can be found here.


The Prudential Regulatory Authority and Financial Conduct Authority have formally confirmed authorisation of Flood Re in effect from 1st April 2016. The national scheme to help provide better access to affordable flood insurance cover went live on 4th April 2016.