The Government should begin work with the insurance and mortgage sectors to ensure the continued availability and affordability of flood insurance beyond 2039, when the current Flood Re scheme is due to end. This should include options for a successor scheme (“Flood Re 2.0”) that recognises resilience measures, supports low-income households, and enables a fair transition to a more risk-reflective market. (Recommendation, Paragraph 128)

The Government should begin work with the insurance and mortgage sectors to ensure the continued availability and affordability of flood insurance beyond 2039, when the current Flood Re scheme is due to end. This should include options for a successor scheme (“Flood Re 2.0”) that recognises resilience measures, supports low-income households, and enables a fair transition to a more risk-reflective market. (Recommendation, Paragraph 128) Type: recommendation | Number: 38 | Response status: not_addressed Government response: This government recognises that climate change and population growth has an impact on insurance. This is why we have committed to reviewing, by the end of this Parliament, whether a return to price reflective market from 2039 remains viable. The review will consider how both the government and the i