Flood Re

An innovative solution to the long standing problem of availability and affordability of flood insurance, likely to benefit 350,000 households.


Flooding is a significant problem for the UK and it is forecast to get much worse with climate change.

In the UK, 5.2 million domestic properties are at risk of flooding and projections show that rising sea levels and higher frequency and severity of rainstorms could lead to another 500,000 more properties being at ‘significant’ risk of flooding by 2035.*

We’ve all seen how devastating a flood can be, not only as they happen but also in the aftermath, as people struggle to find affordable insurance for homes. Storms Eva, Desmond and Frank brought widespread flooding to the north of England, Scotland, north Wales and parts of Northern Ireland throughout December 2015 and January 2016. In total, the Government has confirmed that around 16,000 properties in England were flooded, during what has become the wettest December in a century.

Following the increase in the number and severity of flood events in recent years the continued general availability of domestic flood insurance at reasonable cost has come under a great deal of pressure. That’s why the Government has been working more closely with insurers in the UK, delivering a new way of dealing with offering flood cover on home insurance through a not-for-profit scheme that’s funded by insurers.

Our solution

Flood Re is one of the most significant innovations ever to be introduced into the home insurance market.

It has been designed to make affordable insurance cover widely available to UK householders who live in private residential homes at risk of flooding. In the first year 135,000 policies were ceded to the scheme.

Discussions about setting up Flood Re began in 2009 but it was a further 5 years until the Water Act 2014 was passed which paved the way for the Flood Re scheme.

Capita was awarded the contract in January 2015 to design, build and operate the start-up reinsurance business. The team delivering the project has been drawn from different areas of Capita working alongside our partners at Landmark Information Group.

The delivery of a wide variety of functions has contributed to the successful launch of the scheme, such as running the service desk for industry participants, building and testing the property data hub, developing the IT infrastructure and support, working closely with the Flood Re actuarial team developing their models and managing the finance function including invoicing insurers for their levy contributions.

The scheme went live, on time, on 4th April 2016 and is already accepting bordereaux from insurers.


  • Enables homeowners to find affordable insurance if an eligible property is at risk of flooding
  • Helps tenants to find affordable contents insurance if they live in an eligible property
  • Helps local authorities and communities across the UK to be better prepared for flooding
  • Creates a ‘level playing field’ for UK insurers, which means they can still offer homeowners an affordable range of appropriate policies to those homes at risk of flooding

Introducing a new era of more affordable insurance

  • Brokers are able to build propositions and new opportunities for those customers living in high risk flood areas, price risks more competitively and decline fewer risks
  • Insurers can review their flood risk strategy, offer more competitive premiums in areas liable for flooding and expand the amount of flood risk they offer. Flood Re provides a benchmark which makes it much easier for pricing flood risk
  • Customers living in high risk flooding areas benefit from an increase in availability and choice of insurers resulting in more affordable premiums.

For more information on this scheme please visit the website www.floodre.co.uk


Client success stories

Here's a selection of clients we've worked with and the benefits they've gained. Find out how you too can benefit by reading their stories.

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