Following the serious flooding that affected some parts of the country over the winter, the government announced an independent review into flood insurance. Further details of this review have been published this week.
The review will look at why people did not have sufficient insurance cover – or had no insurance at all – during the floods in November last year. It will inform future policy to support the uptake and effectiveness of insurance in flood risk areas, like parts of Esher and Walton.
One part of this work will look at the availability and affordability of the flooding component of household insurance as a result of the creation of the “Flood Re” scheme.
As some residents will know, this scheme – set up in 2016 between the government and the insurance industry – aims to ensure that people in areas at risk of flooding can get adequate cover at reasonable prices.
The Flood Re scheme now covers 1,301 properties in Esher and Walton, so it is encouraging that this opportunity is being taken to see if any lessons can be learned from recent experience.
I will be paying close attention to the progress of the review and what it means for local residents.
