Defra, ABI confirm Flood Re deal

The Department for Environment, Food and Rural Affairs (Defra) and
the Association of British Insurers (ABI) today (18 December)
confirmed that they have struck a deal on Flood Re.
As reported by The Insurance Insider
yesterday, the agreement sets
out further details on the operation of the UK state-backed
flood reinsurer.
The deal will enable legislation to be laid in Parliament next
year and Flood Re to operate as a reinsurer, following regulatory
approval, Defra said.
Defra also announced tha