Amanda Blanc, group CEO at Aviva, claimed the UK have to be cautious about what occurs in a post-Flood Re world come 2039.
Blanc, pictured, mentioned this with host Ian Smith, who joined her for an on-stage interview on the Monetary Occasions World Insurance coverage Summit right this moment.
Established by the Water Act 2014, Flood Re caps home flood insurance coverage costs, protecting premiums inexpensive for households in high-risk areas and was given a proposed lifespan of 25 years, permitting time for a transition to a free market in flood insurance coverage.
Nonetheless, it doesn’t cowl any residential property constructed after 2009.
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