Holly will host an event in Sowerby Bridge with Brendan McCafferty, CEO of ‘Flood Re’ on Friday 1 July to help local residents understand their new government backed insurance scheme.
The launch of the scheme in April came just months after the Boxing Day floods from Strom Eva which affected 2,781 residential properties in Calderdale.
Flood Re allows insurance firms to pass on flood related risks meaning no one should be denied insurance cover or face excessive premiums.
Householder premiums will be lower than would be the case if the flood risks were fully taken into account as Flood Re will effectively subsidise insurance policies in areas especially prone to flooding. The cost of the subsidy will be covered by a levy on all home insurers in the UK.
For householders the flood element of an insurance policy will be fixed according to the home’s council tax band. A homeowner in band A would pay £210 a year for buildings and contents flood cover, rising to £1,200 a year for a large band H residence.
Flood Re is a world first scheme, designed to reduce home insurance premiums for over 350,000 homes in flood risk areas.
The information event which runs from 18.00 – 19.00 will be held at Christ Church, Sowerby Bridge to raise awareness of Flood Re in the area. Brendan McCafferty will be giving a presentation and local residents will have the opportunity to ask questions about the scheme.
Speaking before the event Hollysaid: “It will be useful to meet with Flood Re and hear about how the scheme is set to help local people.
“Calderdale was devastated by the floods on Boxing Day and I know that some residents have struggled to access affordable flood insurance. I hope the situation will improve now that Flood Re has launched.”
Brendan McCafferty Chief Executive of Flood Re, commented: “Flood Re is up and running and the amount of insurers that have signed up to the scheme has more than doubled since its launch in April.
“Coming to Calderdale is important, as we want local people to understand how the scheme can help them access affordable flood insurance. People should speak to their current insurer and shop around to ensure they are able to get the best possible deal for their flood insurance.”