3.3 Public Private Balance
The UK system of flood insurance has developed quite differently from that in operation in most other
developed countries in that there has been no public provision of flood compensation or post flood relief
from the state. Furthermore, the UK government does not provide any sovereign guarantee or
reinsurance role in insuring against high impact, low probability natural disasters such as flooding.
Instead, the UK operates one of the most mature and highly competitive insurance market in which
flood risk, as reflected in the high premiums charged, is born by individual households and businesses
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