Government launches flood insurance review

The government announced it is to launch a review of flood insurance following the destructive floods that began in November 2019.

The review will examine particular evidence relating to insurance cover for those affected in Doncaster at the end of last year.

It will consider the barriers they may have faced in obtaining insurance and whether there are any systemic issues in the provision of flood insurance. Where necessary, it will also consider actions relevant for future flood events.

The review is to be led by the former chair of the Association of British Insurers and former chair of the Insurance Fraud Bureau, Amanda Blanc. Blanc has commercial experience and a background in general insurance and retail. 

She is also said to have an understanding of the role of Flood Re, a levy and pool system in the UK. 

The system replaced the Statement of Principles agreed between the government and insurance companies to provide flood insurance coverage to domestic properties deemed at significant risk of flooding.

The government expects the review to be completed by the end of September 2020 and will report on its findings shortly after.

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