Flood Re is a not-for-profit initiative to help people who live in flood risk areas to obtain affordable home insurance:
- Joint UK Government and Insurance Industry initiative.
- Collects annual tax from every home insurer in the UK each year, which contributes to a centrally managed fund.
- Takes on the responsibility of flood risk policy from insurance companies.
- Reimburses insurers from the central fund when a valid claim is made.
Last updated: Monday, February 24, 2020 1:45 PM