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Insurers refuse to provide flood coverage to Venice

Flooded St. Mark's Square

Insurers have refused to provide flood coverage to the Italian city of Venice, saying that floods are a regular occurrence there, Reuters reported. Pierpaolo Campostrini, head of the foundation that oversees the preservation and maintenance of St. Mark's Basilica in Venice, said that it will cost €5 million ($5.5 million) to clean up the cathedral, which is exposed to destruction from saltwater.

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