Excerpted from Insurance Insight |  January 10, 2012

Jeroen Spanbroek, liability consulting leader for Europe, the Middle East and Africa in Marsh Risk Consulting, explained: "The Sayano-Shushenskaya incident prompted much debate around the safety and accountability of plants operating within Russia, both by domestic organizations and foreign firms. The new law seeks to act as a deterrent for future negligence and ensure victims receive appropriate compensation.

"In order to avoid costly fines, companies must ensure that they have properly assessed their level of risk and have adequate insurance in place. Failure to do so may face result in them being subject to sizeable fines."

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