Flood Re welcomes Government funding for resilience projects
Flood Re welcomes the Government’s announcement that £2.9 million in funding has been awarded to three flood resilience projects across Yorkshire, Devon and Cornwall, and Central England.
The three projects will receive up to £700,000 to boost research into, and uptake of, property-level measures, which will include new research initiatives, demonstration centres and advice portals which will communicate the benefits of installing property flood resilience measures.
Andy Bord, Chief Executive of Flood Re, said:
“The Government’s £2.9m investment in flood resilience projects across England is a welcomed step forward in improving the take-up of resilience measures for homes in flood-prone areas. This is important so that homes can reduce the risk of, or damage caused by, flooding.
“Flood Re is designed to end in 2039 and so ensuring that households in high flood-risk areas invest in resilience measures will help the home insurance market to function effectively, with affordable premiums for at-risk homes.
“In our recently published Quinquennial review, which looks at the steps needed for an affordable home insurance market by the time Flood Re ends, we highlighted the importance of encouraging more properties across the UK to be made resilient to flooding. We hope that valuable lessons are learnt from these Pathfinder projects, which can be applied more broadly across the UK and help improve our understanding of encouraging take-up.”