Deal finally struck to replace Statement of Principles

 A family are rescued from their home in Gloucester during flooding on 27 November

Fears abounded that the end of the current agreement - which was due to expire at the end of July - would have left homes in flood-prone areas uninsurable. 

It was originally set to finish at the end of June, but a one-month extension had been granted to cater for the on-going talks. 

However, the new Flood Re agreement will cap flood insurance premiums, linking them to council tax bands, so that people will know the maximum they have to pay.

To fund this, an industry-backed levy will support

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: