The British Insurance Brokers’ Association (BIBA) has welcomed Flood Re as a partner, the first public body to join the association.
Flood Re is a joint initiative between the Government and insurers. Its aim is to make the flood cover part of household insurance policies more affordable.
BIBA and Flood Re have worked together on a number of initiatives including the launch of the Flood Insurance Directory, with the ABI, two years ago. More recently Flood Re has helped BIBA bring information and training about Build Back Better to BIBA brokers through a series of webinars.
Graeme Trudgill, BIBA Chief Executive, said: “We share a number of common goals with Flood Re including to support access to, and affordability of flood insurance. We already work very closely with them on the important issues around flood cover availability and promoting the Flood Insurance Directory to help consumers find suitable insurance. We have long campaigned for Build Back Better so are keen to support its implementation and help brokers understand the scheme, along with helping to increase awareness of the benefits of property flood resilience measures. Bringing Flood Re on as a partner will strengthen this relationship further, especially as we move towards the Quinquennial review later this year.”
The Quinquennial review of Flood Re cover is due in July 2024. BIBA and other industry stakeholders were pleased to be asked to participate in a series of knowledge sharing forums to help inform Flood Re in the remaining 15 years of the scheme before it closes.
Andy Bord, CEO, Flood Re, added: “We are delighted to have now formalised our strong working relationship with Graeme and the rest of the BIBA team by becoming an official BIBA Partner. The broking community is in the front line when it comes to helping householders access flood insurance, and BIBA’s members also have an increasingly important role to play in helping to spread understanding of the benefits of our ground-breaking Build Back Better scheme and the adoption of Property Flood Resilience measures. We are looking forward to building on our existing out-reach programme and forging ever closer relationships with BIBA’s wider membership.”
Find out more about Flood Re at www.floodre.co.uk/
Notes to editors
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- About the British Insurance Brokers’ Association
The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers.
BIBA membership includes around 1800 regulated firms, employing more than 100,000 people. General insurance brokers contribute 1% of GDP to the UK economy; they arrange 77% of all general insurance with a premium totalling £105.5bn and 94% of all commercial insurance business. Insurance brokers put their customers’ interests first, providing advice, access to suitable insurance protection and risk management.
BIBA receives hundreds of thousands of enquiries per year to its Find Insurance Services, online and via the telephone, which are directed to insurance broking firms.
BIBA is the voice of the sector advising members, Government, regulators, consumer bodies and other stakeholders on key insurance issues.