Sunday, June 4, 2023
HomeInsuranceUK flood reinsurer to go to US

UK flood reinsurer to go to US

The delegation will go to Miami, Washington and New York. Along with Flood Re, the delegation contains representatives from the insurance coverage and broking sector.

“The Enterprise of Resilience mission will present Flood Re with a well timed alternative to share our internationally regarded method to growing a resilient flood insurance coverage market and to advertise our groundbreaking work on adaptability via the Construct Again Higher Initiative,” mentioned Dermott Kehoe, communications and transition director at Flood Re.

The Construct Again Higher Initiative, launched in April of final yr, has gained help from 64% of the UK’s residential property insurance coverage market, Flood Re mentioned. This system allows collaborating insurers to supply related clients entry to reimbursement prices of as much as £10,000 (about $12,264) to spend money on property-level flood resilience measures, along with the work carried out to restore harm attributable to a flood.

Learn subsequent: FEMA approves over 7,600 Florida households for group flood insurance coverage insurance policies

“This mission displays the worldwide nature of the challenges round flood and the necessity for worldwide collaboration and sharing of greatest observe,” mentioned Andy Bord, CEO of Flood Re. “It additionally acknowledges the success Flood Re has needed to date, underlining that by putting resilience on the coronary heart of housing and constructing coverage, it’s potential to scale back homeowners’ vulnerability to excessive climate occasions and assist communities reap the advantages of a secure, better-planned constructed surroundings.”

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