Flood Re: Flood Insurance and Social Justice



Research by Professor John O’Neill and Professor Martin O’Neill (University of York) on fairness and flood insurance constituted a significant and substantial contribution to the existence of the flood reinsurance scheme Flood Re. This joint initiative between the UK government and the Association of British Insurers was designed to ensure affordable home insurance for high flood-risk residential property. O’Neill and O’Neill’s 2012 report for the Joseph Rowntree Foundation argued that flood insurance should be based on principles of social justice rather than levels of risk. The report, and O’Neill and O’Neill’s work in promoting it, was crucial in persuading the government and other stakeholders that Flood Re should be introduced. As of March 2020, over 300,000 properties have benefited from it and 80% of households with prior flood claims have seen a price reduction of more than 50% in their home insurance premiums.
Impact date20162020