{"id":21264,"date":"2017-02-15T14:08:28","date_gmt":"2017-02-15T14:08:28","guid":{"rendered":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?post_type=publication&#038;p=21264"},"modified":"2024-09-19T15:32:32","modified_gmt":"2024-09-19T14:32:32","slug":"what-can-the-united-states-learn-from-the-united-kingdoms-new-flood-reinsurance-pool","status":"publish","type":"publication","link":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/what-can-the-united-states-learn-from-the-united-kingdoms-new-flood-reinsurance-pool\/","title":{"rendered":"What can the United States learn from the United Kingdom\u2019s new flood reinsurance pool?"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<?xml encoding=\"UTF-8\"><h3>Summary<\/h3>\n<p>The UK&rsquo;s new Flood Re program has supported the private flood insurance market, but also demonstrates that flood insurance cannot be kept affordable without a concerted effort to reduce the underlying risk.<\/p>\n<h3>Key Findings<\/h3>\n<ul class=\"field field-name-field-key-findings field-type-text field-label-hidden\">\n<li>Flood Re is a new not-for-profit reinsurance pool in the UK. Operated by the insurance industry, it is designed to be a transitional arrangement to support the private insurance market and secure affordability of flood insurance through premium subsidies.<\/li>\n<li>The UK government has approved Flood Re despite not meeting cost-benefit targets, justifying it due to wider benefits to property markets and mortgage lending.<\/li>\n<li>Since its launch in April 2016, Flood Re has been supporting the commercial market in providing affordable insurance, but it has not yet been tested by a major flood event.<\/li>\n<li>Flood Re is likely to come under pressure in the face of rising flood risk, since it fails to incentivize flood risk management and risk reduction efforts.<\/li>\n<li>Flood Re demonstrates that flood insurance cannot be kept affordable without a concerted effort to reduce the underlying risk.<\/li>\n<\/ul>\n<p>Surminski, S. (2017). Washington, DC, Resources for the Future.<br>\n<a class=\"link link--external\" href=\"https:\/\/www.rff.org\/research\/publications\/what-can-united-states-learn-united-kingdom-s-new-flood-reinsurance-pool\" aria-describedby=\"link-description-new-window\" target=\"_blank\" rel=\"noopener\" title=\"\">External link to publication&#65279;<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" role=\"img\" aria-hidden=\"true\"><path d=\"M14.42 1.04L3.2.7a.8.8 0 00-.8.76v.1a.8.8 0 00.76.7l9.39.3L.93 14.16c-.3.3-.3.8 0 1.1l.09.08c.3.23.73.2 1.01-.07L13.65 3.65l.29 9.4a.8.8 0 00.8.76.79.79 0 00.77-.8L15.17 1.8a.82.82 0 00-.75-.76z\" fill=\"#2e3152\"><\/path><\/svg><\/a><\/p>\n\n","protected":false},"excerpt":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<?xml encoding=\"UTF-8\"><p>Summary The UK&rsquo;s new Flood Re program has supported the private flood insurance market, but also demonstrates that flood insurance&hellip;<\/p>\n\n","protected":false},"author":12,"featured_media":0,"template":"","tags":[201,491,437,286,229],"publication-type":[1682],"topic_area":[4692,4783],"class_list":["post-21264","publication","type-publication","status-publish","hentry","tag-flood-insurance","tag-flood-re","tag-uk","tag-united-states","tag-usa","publication-type-policy-publications","topic_area-adaptation-and-resilience","topic_area-uk-adaptation-policy"],"acf":{"exclude_from_sync":{"ref_value":"field_560538b0e7350","value":"0","type":false,"post_type":""},"downloads":{"ref_value":"field_52f16cc1a80f2","value":false,"type":"repeater","post_type":""},"rss_newsletter":{"ref_value":"field_54f5c2c1544d8","value":"","type":false,"post_type":""},"profile_link":{"ref_value":"field_52f164b5189e9","value":["swenja-surminski"],"type":"relationship","post_type":"profile"},"spotlight":{"ref_value":"field_52f80896506d3","value":"","type":false,"post_type":""},"show_translations_widget":{"ref_value":"field_6203d588c41e8","value":"0","type":false,"post_type":""}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What can the United States learn from the United Kingdom\u2019s new flood reinsurance pool? 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