Canopius today announces it has agreed to cede risks to the UK government-backed Flood Re scheme, enabling it to provide more effective insurance for homeowners living in flood prone areas of the UK.
Stephen Snook, Head of Canopius UK Specialty, said: “We understand how distressing and disruptive flooding can be to customers and the Flood Re scheme is hugely beneficial to our customers in enabling them to find insurance solutions. We are delighted to be one of the first Lloyd’s insurers to offer this great benefit alongside the flexible and bespoke solutions we already provide to our coverholders.”
Flood Re is a pool arrangement the government has pledged to support until 2039, providing homeowners in high-risk, flood-prone areas with the ability to obtain affordable insurance.
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