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

To ask the Secretary of State for Environment, Food and Rural Affairs, pursuant to the Answer of 16 May 2022 to Question 894 on flood insurance, whether the eligibility of the Build Back Better scheme will expand on the FloodRe scheme to include properties with more than three flats.

Flood Re is designed to ensure domestic flood insurance is available and affordable. Landlord insurance is classified by the insurance industry as commercial business insurance. Such insurance, including that for the larger leasehold premises, is often bespoke and not covered by Flood Re. Nonetheless, tenants and leaseholders are able to obtain contents insurance supported by Flood Re.

There are a number of insurers who offer solutions to those struggling to access flood insurance, including parametric insurance and a scheme which amends a lease for the remaining lifetime of Flood Re to allow the individual leaseholders in a block to insure their individual flats. The Government has worked with industry to set up a new flood insurance directory which insurers and brokers can signpost customers to when they cannot offer flood cover. The directory can be found on the British Insurance Brokers’ Association website.

The Government will consider the impact and effectiveness of Build Back Better and any changes required in the future to drive the growth of the property flood resilience market.