U.K.: Flood Re could leave insurers more exposed, S&P says

Standard & Poor's Corp. has said that Flood Re, the U.K. government's proposed flood reinsurance pool, could expose insurers in the country to losses if the government fails to keep its promise on flood defenses, Artemis.bm reported.

The related risks could lead to a situation where insurers would require more reinsurance protection.

Flood risks pose a great challenge to the country's retail insurance industry, said S&P.

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