What is Flood Re?
Launched in April 2016 Flood re is a not-for-profit programme between the insurance industry and the Government to make home insurance more affordable and accessible for those at the greatest risk of flood.
How does it work?
Flood Re works behind the scenes to create a centralised fund, backed by legislation. The insurer then passes any high flood risk part of a customers’ policy on to Flood Re. If a valid claim is made on the policy , Flood Re will reimburse the insurer from the central Flood Re fund, therefore
allowing participating insurers to reinsure high flood risk properties and provide affordable insurance.
Flood Re have produced a short video to explain how it works.
What is AXA doing to support Flood Re?
We are working hard to progress system developments both internally and with our software house partners to ensure customers have access to more affordable insurance for customers if living in high flood risk areas.
For more information about Flood Re, please visit the
Flood Re website.