Flood Re’s existence is due to end in 2039, by which time it was expected that insurance would be affordable to householders given the anticipated reduction in flood risk as a result of improvements to flood resilience. Defra told us it would keep under review what is the right insurance mechanism to have in place, bearing in mind progress with building flood defences and with creating greater resilience.

Flood Re’s existence is due to end in 2039, by which time it was expected that insurance would be affordable to householders given the anticipated reduction in flood risk as a result of improvements to flood resilience. Defra told us it would keep under review what is the right insurance mechanism to have in place, bearing in mind progress with building flood defences and with creating greater resilience. Type: conclusion | Number: 26 | Response status: not_addressed Government response: 6.1 The government agrees with the Committee’s recommendation. Target implementation date: January 2025 6.2 The department will write to the Committee by January 2025. 6.3 Regulation 27 of the Flood Reinsurance (Scheme Funding and Administration) Regulations 2015 sets out that Flood Re must produce