Russian liability law pushes up insurance costs
Stringent new legislation on the management and insurance of plants dealing in hazardous materials in Russia could have far-reaching consequences for companies operating in the region, according to Marsh.
The legislation, Federal Law No. 225-FZ, came into force in Russia on 1 January, 2012 and penalties for violation will be applied from 1 April, 2012.
The broker says businesses face higher insurance
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