Aviva’s chief executive is cited in a report by the Financial Times, calling for the extension of Flood Re’s coverage, which currently does not extend to flats in leasehold blocks containing four or more homes, or properties built since January 2009.
Flood Re should apply to newer houses…They should look at applying it to houses built since 2009.
Flood Re currently helps homeowners in high-risk flood areas get affordable home insurance. However, their obligation doesn’t include the private rented sector or the leasehold sector.
It is estimated that around seven million homes are excluded from Flood Re’s insurance obligation, meaning that they don’t benefit from this affordable insurance, despite the risk of flooding.
Propertymark political manifesto
Ahead of the political parties finalising their manifestos for the forthcoming General Election, Propertymark has published its own manifesto calling on the new Government to regulate and reform the housing sector.
