The UK Government has decided against funding for a scheme to subsidise insurance for households in danger of flooding. The current scheme, whereby insurers cover those homes likely to be affected at a lower premium than they would normally do, expires in July. That scheme existed due to Government pledges to expand flood defences.
The new scheme, ‘Flood Re’ was intended to replace that facility but it looks as though the Government is having second thoughts.
Update: April 2022
The original news article that this blog post referred to appears to no longer be available. The Flood Re scheme is in force. Find out more on the FloodRe website.