Government-backed insurance scheme launches flood plan

By Martin Croucher (April 19, 2022, 2:18 p.m. BST) – A government-backed reinsurance program has launched a plan to allow Britons whose homes have been hit by flooding to install additional defenses to prevent damage to the future.

The Build Back Better initiative, by Flood Re, means claimants will receive an extra £10,000 ($13,000) on top of whatever they get from their insurance to protect their homes against flooding. Flood Re is a government-backed reinsurance program that enables insurers to provide affordable home coverage to policyholders who live in areas at high risk of flooding.

Flood Re said on Thursday that five insurers – Ageas, Aviva, NFU Mutual, Lloyds…

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