The Flood Reinsurance Scheme - Regulations

Closed 16 Sep 2014

Opened 22 Jul 2014


The UK Government announced in June 2013 that it was taking forward the Flood Reinsurance Scheme (Flood Re) as the preferred approach to addressing the availability and affordability of flood insurance.

The Flood Re Scheme will ensure that domestic property insurance continues to be widely available and affordable in areas of flood risk without placing unsustainable costs on wider policyholders or the taxpayer. Flood Re will provide transitional support to households at flood risk over a 25 year period as part of a gradual transition towards more risk-reflective prices; this will provide time for choices to be made and risk management action to be taken. Further information on Flood Re is provided in the Short Guide to Flood Re in an Annex of the Consultation Document.

This consultation is being conducted by the UK Government. Financial services including insurance are reserved matters and the territorial extent of this consultation covers the UK insurance market and is therefore UK-wide in scope.

Why your views matter

The Government has taken the necessary powers in the Water Act 2014 allowing for the introduction of Flood Re.  The Water Act 2014 sets the legal framework and parameters within which Flood Re will operate and the broad scope of the regulations.

We are now intending to introduce regulations to enable the insurance industry to implement Flood Re next year. The proposed regulations will cover the legal framework around the Flood Re Scheme, its funding and its administration.

We are now seeking views on the regulations. Those groups, individuals and businesses at flood risk, insurance industry participants and property and mortgage sector participants are advised to respond to this consultation.

What happens next

 We have considered all your replies and the Government Response is now available on


  • Charities/Voluntary Organisations
  • House Building Industry
  • Households
  • Local Authorities
  • Families
  • Students
  • SME businesses
  • Tourism industry
  • Insurance industry


  • Natural environment
  • Climate change
  • Flooding
  • Flood insurance