Council reaffirms backing for flood scheme’s affordable insurance

Release date: 14 September 2016

Cotswold District Council is reminding residents that it is fully supportive of a government scheme which offers affordable insurance for home owners in flood prone areas.

Since April 2016, insurance companies have been working alongside the government on the ‘Flood Re’ scheme which will run until 2039. The scheme, which is also backed by Gloucestershire County Council, will:

- Enable flood insurance cover to be more affordable for households at highest risk of flooding

- Increase the availability and choice of insurers for customers

- Allow time for the government, local authorities, insurers and communities to become better prepared for flooding, and reduce the likelihood and cost of dealing with it.

Representatives from the scheme will be holding a Q&A session at Gloucester Guildhall from 2pm on Saturday 19 September and experts will be available to answer public questions. Additionally, CDC’s Principal Engineer will attend the event and will try to obtain information about how completed flood prevention schemes in the Cotswolds will be acknowledged by the insurance industry.

CDC drew attention to the ‘Flood Re’ scheme when it was first launched earlier this year, and – with the winter season fast approaching - Cllr Sue Coakley, Cabinet Member for Environment, has reaffirmed her support: :

“It’s distressing enough for householders when their homes are flooded, but this misery is compounded when they cannot obtain competitively priced insurance options and have to settle for very expensive deals.  The ‘Flood Re’ scheme addresses this problem for many people, including those living in areas in the Cotswolds with a history of flooding.  Under the terms of the scheme, insurance companies continue to collect payments and deal with any claims arising from policies. However, portions of these payments are redirected to Flood Re who take on the flood risk element for a fixed price thus keeping down the cost of the policy. Flood Re receive a levy on all insurance policies which funds their reinsurance scheme.”

The ‘Flood Re’ scheme applies to homes that were built before January 2009 and it is expected to help up to 350,000 homeowners across the UK.  The properties must fall within a Council Tax band and should be insured in the name of an individual.  The scheme will not apply to leasehold flats in blocks of four units or more, nor is it open to businesses.

For more details about the scheme, visit Additional information on flood risk and protecting you property can be found here


Cotswold District Council
Trinity Road