Approximate (or inexact) computing is an attractive paradigm for digital processing at nanometric scales for applications in which imprecision in computation can be tolerated for improvements in other computational figures of merit, such as power consumption, circuit complexity and delay. The same principles of approximate computing are investigated in this manuscript for storage protection using an unequal protection code (UEP). In the proposed UEP code, the codeword is divided into two partitions; these partitions have different error protection functions. This paper presents a new class of two-level burst error correcting UEP codes and its parallel decoder. The proposed code is more efficient than an existing code in term of code rate, area and power consumption for the parallel decoder.