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

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 Type: conclusion | Number: 24 | Response status: not_addressed Government response: 6.1 The government agrees with the Committee’s recommendation. Target implementation date: January 2025 6.2 The department will write to the Committee by January 2025. 6.3 Regulation 27 of the Flood Reinsurance (Scheme Funding and Administration) Regulations 2015 sets out that Flood Re must produce