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A car is towed through a flooded street in Egham, England, Thursday, Feb. 13, 2014. The River Thames burst its banks after reaching its highest level in years, flooding riverside towns upstream of London. (AP Photo/Sang Tan)

(Bloomberg) – The London insurance market shouldn’t keep cutting rates to secure business because it may not be adequately pricing the risk it is taking on, the Bank of England said.

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