Ian Mearns – 2016 Parliamentary Question to the Department for Education

The below Parliamentary question was asked by Ian Mearns on 2016-02-01.

To ask the Secretary of State for Education, how accurate prior actuarial analysis of the Risk Protection Arrangement was in forecasting the scheme’s overall loss as a result of flooding.

Edward Timpson

The Risk Protection Arrangement provision includes an allowance within its benchmarks for large storm or flood events, based on the actuarial work undertaken, which last took place on data as at 31 August 2015. Actuarial analysis is not intended to provide forecasts for individual events, so it would not be meaningful to compare the analysis with recent events.