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Insurance in the Digital Age

There are some social costs to bear as new technology changes the world of insurance.

STAYING DRY: In the UK, the government set up Flood Re to offer insurance cover to homeowners who live in flood-hit areas, to give them adequate security and protection.

INSURANCE has an important social purpose. It allows policyholders to share the cost of potential risks that they all face, but cannot bear the cost alone. These might be any one of a wide range of risks associated with anything from sudden illness, damage to property or loss of income to...