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LONDONThe Association of British Insurers announced that insured losses from the recent floods in central and western England are expected to reach £1 billion ($2.0 billion).
The London-based ABI, which represents insurers in the United Kingdom, said its members had received about 3,500 commercial claims and 12,000 household claims resulting from the recent flooding.
Severe flooding occurred in northern England in June. The ABI said combined losses from the two periods of flooding are likely to reach £2.5 billion ($5.1 billion).