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Flood Re, the flood insurance scheme set up by the UK government and industry to offer cheaper insurance to homeowners at risk of flooding, has reached reinsurance deals worth £2.1 billion with 38 insurance companies. 02 Feb 2016
Homeowners who fail to take steps to prevent their property from flooding could in future be excluded from the new government-backed affordable flood insurance scheme, the company's chief executive has suggested. 14 Jan 2016
This guide is based on UK law. It was last updated on 1st April 2008.
Part VII of the 2000 Financial Services and Markets Act (FSMA) sets out the statutory mechanism allowing insurers and reinsurers to transfer portfolios of insurance business from one entity to another, subject to court approval.
The US Treasury and US Trade Representative (USTR) will be seeking "recognition of certain prudential measures" from the EU as part of negotiations for a covered agreement on insurance, according to an announcement. 25 Nov 2015
Flood insurance scheme Flood Re is "on track" to accept its first policy in April 2016 after securing its first £1.29 billion worth of reinsurance cover, it has announced. 23 Nov 2015
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