As the UK’s leading manufacturer of BSI KitemarkedTM Certified flood products M3 Floodtec were invited to attend the launch at House of Commons to learn more about this new provision and how FloodRe together with industry are working to make it more accessible to help reduce the trauma, distress and cost that flooding can bring.
Flood Re was launched in 2016 as a joint initiative between the Government and insurers to make flood insurance more affordable and available, and we are proud that over 350,000 households have benefitted since then.
From April 2022, customers of insurers who offer Build Back Better (BBB) provisions within their policies will be eligible for further funds above and beyond reinstatement costs after a flood – up to £10,000. The funds can be used to install flood resilience measures that are designed to reduce the cost and impact of future flooding, as well as allow families to return to their homes faster after a flood.
Together with other interventions such as flood defences, BBB will provide a powerful tool to address the increased risks of flooding posed by climate change, improving resilience, and supporting families.
The event held the Churchill Room included:
- Speeches from Rebecca Pow, Minister for Nature Recovery and the Domestic Environment, Flood Re Chair Mark Hoban and CEO Andy Bord
- Latest data and information about BBB – including the insurers who will begin to offer BBB policies this year
- Examples of flood resilience measures and BSI KiteMarked flood products that households will be able to access via BBB