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Residents drive through the flooded center of the village of Datchet, England, on Feb. 11, 2014. (AP Photo/Lefteris Pitarakis)

Floods and powerful storms pounding the U.K. the past few months could cost the insurance industry at least 500 million pounds ($822 million), according to Bloomberg News. That figure may double if the weather conditions persist, a partner at Deloitte LLP told Bloomberg.

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