01/02/22 - We've launched with Flood Re
What is Flood Re?
Flood Re is a joint initiative between the government and insurers in the UK. It is a reinsurance scheme which makes flood cover in the highest risk areas more widely available.
How it works
All UK home insurers must pay a levy into the government Flood Re scheme. This levy is used to cover claims for flood should an insurer wish to pass (or 'cede') the flood risk element of a home insurance policy they provide to a customer.
As Flood Re provide cover for flood in areas which most insurers would decline, or exclude flood, it now allows the customer, or you the broker, to obtain cover where previously you may have been unable to.
Our products and Flood Re
With immediate effect, our partnership with Flood Re introduces the Flood Re scheme into all of our specialist home insurance products available on the Plum Online Portal (excluding short term and contract works products) and is currently being rolled out to our eFlex product available on Open GI.
You'll be delighted to know this means that we will be able to offer flood cover via Flood Re where previously we may have excluded the peril in the highest risk areas. For any existing cases coming up for renewal we will give you the option of renewing on current terms if flood is excluded, or including flood cover via Flood Re with the appropriate additional premium.
Learn more and download our quick customer guides to Flood Re >>