Coverage for more than 35 million policyholders at stake due to Brexit

U.K.'s central bank the Bank of England said that 36 million British and European policyholders could have their cover voided if no deal is struck on insurance contracts due to Brexit, Bloomberg reported. The central bank said that up to £26 trillion ($34.6 trillion) of outstanding contracts could be left hanging without an agreement due to the fragmentation of derivatives clearing from London.

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