Flood Re receives regulatory approval
Organisation confirms 4 April launch date.
Flood Re has confirmed that it has been authorised by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) from 1 April 2016.
The scheme will go live on 4 April 2016 and Flood Re said it expected up to 350,000 households to benefit from it.
Earlier this month, Flood Re CEO Brendan McCafferty told members of the All Party Parliamentary Group for Insurance and Financial Services that the scheme had two issues to solve before it would be authorised by the PRA.
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