Flood Re calls on government for £1bn flood defence spending
Flood Re has urged the government to spend at least £1bn a year to keep pace with changing climate risks and ensure the protection of homes and businesses in the UK from the devastation flooding brings.
Flood Re, a joint initiative between the UK government and insurance industry, made the call noting the government is currently considering long-term spending plans.
It also unveiled research showing flood defences prevent £1.15bn in flood-related damage to UK homes each year.
We must continue to mitigate the damage caused by flooding to ensure the insurance market has the ability to provide affordable cover to those at risk.
The analysis commissioned from flood risk modelling company Fathom was on
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