MGA joins flood resilience scheme

Pen Underwriting has become the second MGA to join Flood Re’s Build Back Better (BBB) scheme.

The move means the MGA will now be able to provide its customers the opportunity to install flood resilience measures up to the value of £10,000 when repairing their properties.

This includes raised electrical sockets, self-closing air bricks, non-return valves, flood resistant doors and wooden floors with waterproof tiling and grout.

Stuart Logue, interim chief executive at Flood Re, said: “It is great to see the BBB scheme gaining increased traction with the rapidly expanding and increasingly influential specialist MGA sector.

“The news also marks another significant step towards our goal for BBB to become a standard offering in the UK for home insurance policies, increasing the resilience of homes across the UK in the face of climate change and increased flooding.”

Pen’s support

Launched in April 2022, the BBB scheme is a joint initiative between the UK insurance industry and the government to promote the availability and affordability of flood insurance.

Jill Moffett, performance and product manager of household and personal lines at Pen, said floods can be overwhelming due to the “often long periods required for cleaning up”.

She added that to reduce the “cost, duration and distress of any future flood event”, Pen will encourage and support homeowners in adopting adaptation and resilience measures during repairs.

Moffett said: “BBB is a fantastic way to make this change a reality and we are delighted to become part of the scheme and support our customers in improving their flood resilience, minimising future water ingress and speeding up a return to their homes and normality.”