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The Jubilee River story (0948o) -

Water Act 2014 (Insurance)

This affects you……………… May 2014 and the Water Act 2014 has now been published. 

Links to the Act and some of the contents may be found below………….

Regarding insurance - this is primarily an ‘enabling act’ with the detailed regulation still to come.

As for the Government getting a grip on the Insurance Companies - we will have to wait and see…………………..

Link to Water Act 2014   

 The links to flood insurance and the individual elements are:

Part 4 Flood insurance

1.                                                       The Flood Reinsurance Scheme

1.                                                                               64.The Flood Reinsurance Scheme

2.                                                                               65.Scheme administrator

3.                                                                               66.Scheme funding

4.                                                                               67.Scheme administration

5.                                                                               68.Replacement of the scheme or administrator

6.                                                                               69.Disclosure of HMRC council tax information

2.                                                       Flood insurance obligations

1.                                                                               70.Flood insurance obligations

2.                                                                               71.Target number

3.                                                                               72.Information

4.                                                                               73.Section 72: further provision

5.                                                                               74.Register of premises subject to greater flood risk

6.                                                                               75.Functions of relevant bodies

7.                                                                               76.Reviews and appeals

8.                                                                               77.Expenses of relevant bodies

9.                                                                               78.Compliance reports

10.                                                                            79.Functions of the FCA

11.                                                                            80.Reports by the FCA

12.                                                                            81.Intervention by the FCA or the PRA

3.                                                       General

1.                                                                               82.Interpretation

2.                                                                               83.Period of operation

3.                                                                               84.Regulations and orders