Why do we need Flood Re?
In recent years, some parts of the UK have been hit by severe flooding. This made it harder to find insurance, and more expensive for those householders in high flood risk areas.
A previous flood insurance solution (the Flood Insurance Statement of Principles) was only a temporary measure. A longer-term plan was needed. That is why the Government and the insurance industry worked together to create Flood Re, to help make flood insurance more available and affordable.