The review wishes to explore why individuals did not have sufficient insurance coverage during the November 2019 flooding
Former Zurich and AXA UK chief executive Amanda Blanc is to spearhead an independent government review into flood insurance, primarily based on the flooding that occurred in Doncaster last November.
The review, which will consider both domestic and business insurance provisions, aims to explore why individuals did not have sufficient insurance coverage, or any insurance at all during the November 2019 flooding. It will therefore seek to understand the barriers preventing households and businesses purchasing this type of insurance and what the scale of this problem could likely be.
Blanc’s review will further take a deep dive into flooding in the Doncaster area specifically, assess the main implications of future flood events and offer recommendations in order to inform future policy to support the uptake and effectiveness of insurance in flood risk areas.
Other issues the review will tackle includes the awareness of flood insurance, its uptake, availability and affordability. The review will also look at the implications for those with or without relevant insurance, as well as the availability and affordability of the flooding component of household insurance as a result of Flood Re’s existence.
Key questions to be asked in the review:
1. What does the evidence tell us about the level of insurance cover held by those most recently affected by floods and the barriers they faced?
2. Does this evidence point to any systemic issues in the provision of flood insurance?
3. Does this evidence suggest any other issues regarding availability, affordability, barriers, or dissatisfaction with insurance coverage?
The final report is expected to be published in September 2020.
On LinkedIn, Blanc said: “Pleased to commence work on the Doncaster flood review this week. It’s always been a subject that has personally concerned me; from taking calls on the claims helpline listening to truly distressed policyholders during the 1998 Northampton floods, through to returning home to the Rhondda this February to witness first-hand the devastation caused to the community, again by flooding.
“The review will seek to understand if the current insurance system is working for people and businesses and recommend changes if necessary, ready for when we have come through Covid-19 together.”
Blanc is the former chair of the Association of British Insurers and former chair of the Insurance Fraud Bureau. She is currently acting as a non-executive director at insurer Aviva, chair of the Professional Rugby Board, Welsh Rugby Union board member and senior advisor at Trov.