Flood Re paid out more last year than its first three years combined
The Flood Re scheme incurred gross claims of £160m in 2019/20, more than the total paid in its first three years of existence.
The gross cost of claims for the scheme hit £160m for the year ending 31 March 2020, in a year that saw the 2019 November floods followed by storms Ciara and Dennis. This was ten times more than it
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