On 8th December, I met the Chief Executive of Flood Re, Andy Bord, to raise scheme eligibility.
Flood Re is a government-backed scheme is designed to provide affordable insurance to residents in properties at risk of flooding.
Since the 2021 floods in Kensington, many residents have faced skyrocketing insurance premiums with some struggling to get insurance at all especially those living in blocks with several flats.
At the moment, buildings with more than three flats in them are not eligible to get a Flood Re insurance plan. This means many Kensington residents are unable to access affordable insurance.
Flood Re was introduced in April 2016 with a clear objective to provide affordable home insurance to those most at risk of flooding. But Kensington and other London residents are not being fully protected by the scheme. That's why I am calling for Flood Re to review their eligibility guidelines to cater for residents in larger blocks.
Flood Re will be reviewed and new recommendations implemented in 2026. In July 2024, they will be submitting the results of their internal review to the Secretary of State ahead of that review.
In the meantime, I will continue to call on Flood Re to review their eligibility and work with Government to find solutions.
