trending Market Intelligence /marketintelligence/en/news-insights/trending/rs8-G1nn9LkEAPpa1ncUKg2 content esgSubNav
In This List

Report: Flood Re can run without funds from insurance industry, says chairman

Blog

Perspectives from China: The Shifting Regulatory Landscape

Blog

Anticipate the Unknown: Does Supply Chain Disruption Lead to Increased Credit Risk?

Blog

Data Stories: Data insights to help alleviate business complexity amid geopolitical risks

Podcast

Street Talk | Episode 90: Banks should not wait on the Fed to put cash to work


Report: Flood Re can run without funds from insurance industry, says chairman

Flood Re, the U.K.'s new state-backed scheme aimed atcutting insurance costs for homes in flood-risk areas does not need furtherfunding from the insurance industry, its chairman, Mark Hoban, said, accordingto a Reuters report from April 4.

The scheme is funded partly via a £180 million annual tax onthe sector.

"We do not expect to charge [a second levy],"Hoban told Reuters.

The insurers and brokers signed up to Flood Re includeAdmiral Group Plc,Aviva Plc, ,Legal & General GroupPlc and RSA InsuranceGroup Plc, Reuters noted.