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International

U.K. government excludes small business from new flood insurance backstop

December 13, 2013 Reprints

Small businesses will excluded from a new flood insurance program, known as Flood Re, the Department for Environment, Food and Rural Affairs said.

The U.K. government said there was "insufficient evidence" that the new scheme should include small businesses, This is Devon reported. The government's decision will result in years of high insurance premiums for small businesses hit by floods.

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U.K. government excludes small business from new flood insurance backstop

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