Flood insurance providers urged to register for new industry directory

The British Insurance Brokers’ Association, the Association of British Insurers and Flood Re have opened registration for the new Flood Insurance Directory.

The organisations are calling for intermediaries and insurers that can provide cover for residential buildings and/or contents insurance for consumers who are struggling to obtain flood insurance to register to be part of the service ahead of its launch.

The directory will be open to all FCA and PRA regulated insurers and intermediaries that can meet the eligibility criteria. Primarily they will need to be able to provide cover either for homes eligible for Flood Re, or be able to provide flood cover for homes outside Flood Re’s eligibility criteria eg. those built since 2009.

Graeme Trudgill, BIBA executive director, commented: “This new Flood Insurance Directory will be a joint industry solution to help homeowners struggling to access flood insurance. It’s a natural next step for our Find Insurance Service and we are urging relevant brokers and insurers to register within the next month. This is our opportunity to work as an industry to provide a simple yet effective solution to a challenge that Government has asked us to solve.”

James Dalton, director, general insurance policy, Association of British Insurers, added: “This is a great initiative to ensure that those living in areas of higher flood risk are able to access affordable flood cover for their homes. The ABI and BIBA have gone one step further with this signposting agreement which will help those both within scope, and out of scope of Flood Re, to be directed to specialist providers for their needs”.

Interested providers may register here: https://d10ou7l0uhgg4f.cloudfront.net/wp-content/uploads/2015/10/13114317/Flood-Directory-Vetting-Process-interactive-PDF-October-update-FINALISED.pdf

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