B

Baroness Hayman of Ullock (Lab)

Speaking in the House of Lords on 6 January 2026

Debate

Flooding Interventions

Contribution

My noble friend is correct that we have committed a record £10.5 billion to flood defences, the reason being that flood risk is one of the factors that determine home insurance prices. Our investment programme is designed to manage flood risk by reducing it and by preventing further increases. Clearly, this can also take properties out of the need to use Flood Re for their insurance. To remind noble Lords, Flood Re is a joint government and industry flood reinsurance scheme designed to help UK households at high risk of flooding to access affordable insurance.

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