The UK's flood Insurance Company Will Visit The United States
worldinnews.com - UK flood reinsurer Flood Re has joined a UK government trade delegation to the US this week focused on promoting the UK’s knowledge and capabilities in flood and cyber resilience.
The delegation will have meetings with chief resilience officers, insurance regulators, the Federal Emergency Management Agency, and the New York City Office of Climate and Environmental Justice, among others, Flood Re said.
The delegation will visit Miami, Washington and New York. Other than Flood Re, the delegation is comprised of representatives from the insurance and brokerage industries.
"The mission of the Business of Resilience is to provide Flood Re with an opportunity to share our internationally recognized approach to developing a resilient insurance market and promote our groundbreaking work on adaptability through the Build Back Better Initiative" said Dermott Kehoe, the communications and transition director at Flood Re.
The initiative to rebuild better, which was launched in April of last year, has gained support from 64% of the UK's residential property insurance market, Flood Re said. The program facilitates participating insurers to provide financial assistance to relevant customers that can reach up to £10,000 (around $12,264), this amount can be invested in property-level flood resilience measures, in addition to the money spent on repairing damage caused by a flood.
"This mission is representative of the global nature of the issues surrounding flooding and the need for international collaboration and the sharing of best practices," said Andy Bord, CEO of Flood Re. Additionally, it recognizes Flood Re's success thus far, emphasizing that by placing resilience at the core of housing and building policy, it can reduce the vulnerability of householders to extreme weather events and help communities reap the benefits of a safer, more planned built environment.
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