Andy Bord, current interim CEO at Flood Re, has been appointed to the position on a permanent basis.
Bord joined Flood Re on 23 January, taking over the CEO position from Brendan McCafferty. Previously, Bord served as CEO of Capita Insurance Services.
Launched last year, Flood Re is a reinsurance programme designed to help provide better access to affordable flood insurance cover.
According to Flood Re, in the programme’s first year the number of households who had made prior flood claims and who could get quotes from two or more insurers increased from 9 percent to 95 percent. In addition, four out of five of these homes saw a reduction in the price of available quotes of more than 50 percent.
Commenting on his appointment, Bord said: "It is a privilege to be staying with a great team that has already made a real difference to the lives of tens of thousands of people across the UK.”
Mark Hoban, chairman of Flood Re, said: “I am delighted that Andy Bord will lead Flood Re into its second year and beyond. Bord has the decisive combination of experience operating at CEO level coupled with a good knowledge of the insurance sector. His work in complex regulated environments along with his strong consumer insight is particularly relevant as we continue to ensure that as many people as possible benefit from the scheme.”
