Flood Re is a collaboration between the UK Government and the insurance industry, with the goal of enabling insurers to provide flood-prone households across the UK with affordable insurance cover. The scheme is funded by an industry-wide levy on all domestic property insurance policies in the UK. It is estimated that insurers will pass on to Flood Re the flood risk element of insurance policies (home and contents) for around 350 000 households. The scheme will run for 25 years.