Flood Insurance: Reform of Flood Re Debate
Full Debate: Read Full DebateDepartment: Department for Environment, Food and Rural Affairs
Joe Powell
Main Page: Joe Powell (Labour - Kensington and Bayswater)Department Debates - View all Joe Powell's debates with the Department for Environment, Food and Rural Affairs
(1 month ago)
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Emma Hardy
The original purpose of Flood Re was to make flood insurance affordable for people who otherwise would not be able to access affordable insurance on the free market. This is not new policy, but returning Flood Re to the purpose for which it was created.
Joe Powell (Kensington and Bayswater) (Lab)
I welcome the focus on supporting low and middle-income households. The Minister will know that after the July 2021 floods in central London, denial of flood insurance or punitive excesses for people living in blocks of four or more flats has been a serious problem. That is a big chunk of my constituents. They cannot access Flood Re, because those properties are treated as commercial premises. What plans does the Minister have to address this issue?
Emma Hardy
My hon. Friend raises an important point. We are continuing to work with the Government, the regulator and industry to review the scheme eligibility criteria, including considering options to better support leaseholders.