Written Questions are submitted by MPs or Lords to receive information from a Department.
|4 Dec 2017, 7:04 p.m.||Holly Lynch MP (Labour - Halifax)||Holly Lynch MP (Labour - Halifax)|
Question to the Department for Environment, Food and Rural Affairs
To ask the Secretary of State for Environment, Food and Rural Affairs, how many home insurance policies have been affected by the Flood Re scheme.
Answer (Dr Thérèse Coffey)
In its first year of operation Flood Re covered over 127,000 policies. Flood Re plans to publish figures on the last 6 months shortly.
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 0% being able to get quotes from five or more. By December 2016, 84% householders could get quotes from five or more insurers while 95% could get quotes from two or more. 80% householders with previous flood claims saw a reduction in the price of available quotes of more than 50% after the introduction of Flood Re.