Flood Reinsurance (Scheme Funding and Administration) Regulations 2015 (S.I. No. 1902 of 2015).

These Regulations set out the funding arrangements for the Flood Reinsurance Scheme and the administrative requirements for the running of the Scheme by the Flood Reinsurance Scheme administrator. The Water Act 2014 contains new arrangements designed to promote the availability and affordability of home insurance in areas of high flood risk. They also place a requirement on relevant insurers to pay a levy to the Scheme administrator and set out how the levy will be calculated and the purposes for which the levy may be used.