Rural ‘catastrophe’ forecast if firms miss flooding insurance

Flood waters on the A646 in Hebden Bridge last year
Flood waters on the A646 in Hebden Bridge last year
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‘Flood Re’ is a joint scheme due to be introduced by the Government and the insurance industry in 2015.

It is intended to ensure people in flood risk areas can still get affordable home insurance as the climate changes and floods increase.

The industry has agreed to levy a small charge on all home insurance bills to create a fund that will effectively subsidise the premiums of those in flood risk areas.

The Government has in return agreed to a massive programme of investment in flood defence schemes.