Question to the Department for Environment, Food and Rural Affairs:

To ask the Secretary of State for Environment, Food and Rural Affairs, whether she is taking steps with Cabinet colleagues to track the (a) cost of insurance and (b) availability of financial lending in coastal communities vulnerable to the impacts of climate change.

Defra has published research into the availability and affordability of insurance in 2013, 2015, 2018 and 2023. Alongside this, Flood Re monitor the availability and cost of home insurance for flood affected households, including those in coastal areas.

As part of the £200m Flood and Coastal Innovation Programme (FCIP), Ministers have allocated £36m over 6 years, to develop a ‘Coastal Transition Accelerator Programme’ (CTAP) to trial opportunities, in a small number of coastal areas at significant risk of coastal erosion, to transition and adapt to a changing climate/coastline.

East Riding of Yorkshire and North Norfolk were identified as the areas to lead off the programme. Within their projects programme, they will be exploring the availability and role of financial products or services that can help people or businesses in communities most at risk of coastal erosion. Other coastal communities and risk management authorities will benefit from the learning that will be shared from this programme to inform future climate resilience and adaptation.