FloodRe has gone out to tender with a contract for Build Back Better Household surveying and analysis services worth an estimated £120,000 (inc VAT).
Flood Re are seeking to procure the expertise and services of a third party expert to conduct a survey of 100 to 200 relevant policyholders that have turned down additional funds to make their homes more resilient as part of the rebuilding process.
Flood Re intends to undertake the project to understand why eligible policyholders have turned down Build Back Better (BBB). The surveys is set to take place between September and October 2025, across different BBB cedents, with final findings to be collated and reported by the end of Autumn 2025.
Current estimated start and end contract dates are 31 August 2025 to 31 October 2025.
Flood Re is a joint initiative between the Government and insurers with the aim of making the flood cover part of household insurance policies more affordable.
Every insurer that offers home insurance in the UK must pay into the Flood Re Scheme - the Levy raises £135 million every year which is used to cover the flood risks in home insurance policies.
Flood Re is planned to be in place until 2039. As well as helping to enable home insurance to remain affordable in areas at risk of flooding, it also has a role to help manage a transition to home insurance prices that fully reflect flood risk. This means that people benefiting from Flood Re need to become more aware of their flood risk and, if possible, take action to reduce it.
In 2039 the Flood Re Scheme will end and there will be a free market for flood risk insurance.
Tender submission deadline is 2:00pm at 8 August 2025 - click here to access tender documents, submission details and any special instructions.
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