Flood Re incurs £160m in claims for 2019/20
The government-backed flood insurer paid out more than in its first three years combined, plus, it also welcomed changes to the scheme enabling discounted premiums.
This year, Flood Re processed more claims and paid out more than in the first three years of operation combined. In 2019/20, Flood Re incurred claims at a gross cost of £160m – ten times higher than the previous year.
After three relatively dry years, 2019/20 saw the first major Storms, Ciara and Dennis, causing widespread flooding across the UK. Between November 2019 and February 2020, thousands of homes were flooded in South Wales, Northern and Central England and the Scottish Borders.
Flood
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