More than 35,000 households have received assistance from a flood insurance directory since its inception four years ago, according to recent reports from industry bodies. The directory, which was launched in February 2022, was specifically designed to help residents in flood-prone areas access appropriate insurance policies.
Industry Collaboration Marks Milestone
The British Insurance Brokers’ Association (Biba), the Association of British Insurers (ABI), and Flood Re have been commemorating the fourth anniversary of the directory's launch. Flood Re is a scheme aimed at making the flood cover component of household insurance policies more affordable for consumers.
Those involved in the initiative attribute the directory's success to an agreement implemented in September 2022. This agreement requires the insurance industry to direct individuals who have been declined flood cover or offered policies with flood exclusions to the directory, ensuring they have access to alternative options.
Government and Industry Praise
Floods minister Emma Hardy commented on the directory's impact, stating: "Flooding has a devastating and lasting impact on households, so it is great to hear that the flood insurance directory is making a real difference for households facing flood risk, helping them find suitable cover and peace of mind."
Hardy further highlighted the government's commitment, noting: "This Government is spending at least £10.5 billion up until 2036 to build and repair flood defences in England, and initiatives like this are further examples of what can be achieved when government and industry work together."
Graeme Trudgill, chief executive of Biba, expressed pride in the directory's performance: "Four years on, the flood insurance directory operated by Biba continues to deliver on its promise. It is helping thousands of people find the protection they need for their homes. The increase in usage shows that signposting works, and we’re proud to see the industry come together to support those in need."
Development and Current Features
The directory was developed in response to a review of flood insurance in Doncaster, which called for improved access to flood insurance. In collaboration with the Department for Environment, Food and Rural Affairs (Defra), Biba, the ABI, and Flood Re created the directory and the accompanying signposting agreement to assist homeowners.
Currently, the directory features 24 approved insurers and brokers, providing a comprehensive resource for those seeking flood insurance. Kelly Ostler-Coyle, director of corporate affairs at Flood Re, remarked: "We’re delighted that the flood insurance directory has supported more than 35,000 households in its first four years. It continues to be an essential resource for homeowners who are not eligible for the Flood Re scheme."
Broader Implications and Future Directions
Chris Bose, ABI director of general insurance policy, emphasized the directory's role: "In helping over 35,000 households find suitable insurance when they might otherwise struggle to access cover, the directory is delivering exactly what insurance is there for – vital, practical support for homeowners facing the challenges of flooding. It’s encouraging to see the real difference this is making for so many customers."
The ABI has previously stressed the importance of integrating climate resilience into new housing developments. This involves designing and constructing homes that can withstand flooding, extreme heat, high winds, and subsidence, as well as ensuring that new builds are not situated in areas prone to flooding.
The flood insurance directory remains accessible online, serving as a key tool for homeowners navigating the complexities of flood risk and insurance coverage.
