Flood Re
Recent research revealed that Flood Re has succeeded in bringing more choice to flood affected communities in its first year in operation.
The statistics show that, since the introduction of the scheme, four out of five householders with previous flood claims saw a reduction in the price of available quotes of more than 50%.
They also revealed that, before the introduction of Flood Re, only 9% of householders who had made prior flood claims could get quotes from two or more insurers, with none being able to get quotes from five or more.
Now, 95% of those households that had previously made flood claims have access to two or more quotes and 84% can get quotes from five or more insurance providers