Many of the products people use every day are made in foreign countries - from coffee makers produced in China to cars built in Germany to cell phones manufactured in India. While many of these products fulfill their purpose without any complications, there are others that cause problems for their users. A coffee maker might spill boiling water or a car’s airbag might not open properly. These problems can be caused by manufacturing errors or flaws in product design.

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On December 12, 2007, there was a fire in an industrial plant in Turin that was owned and managed by ThyssenKrupp Acciai Speciali Terni S.p.a. (ThyssenKrupp), an Italian subsidiary of ThyssenKrupp Stainless group. The violent fire occurred in a cold annealing and pickling line, called APL5, where there is typically a significant amount of lubricant oil and paper, as well as sparks generated by the plant’s industrial process.

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Recent Trends

The financial crisis has triggered a number of criminal investigations against companies and their directors. In light of these developments, this section provides an overview of the recently introduced Spanish regulation concerning criminal liability of companies and the real impact this reform will have on directors and officers (D&O) policies.

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Recent Legislative and Judicial Developments in Continental Europe Affecting the Casualty Insurance Industry  is the latest installment in Guy Carpenter & Company Ltd.’s (”Guy Carpenter’s”) legislative update series, designed to provide our international clients and markets with a concise overview of key trends in the Continental European legal environment. These issues have had an impact on insurers and reinsurers or are expected to have an effect in the near future.

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David Lewin, Managing Director
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Introduction

The Swiss Insurance Contract Act (Versicherungsvertragsgesetz, VVG) has been the subject of growing criticism for a number of years. In particular, the VVG does not provide for equivalence between the obligations of the insured and those of the insurer. Also, there has been deficient coordination between the VVG and the Swiss Code of Obligations (OR). As a consequence, the 100-year-old VVG is being modernized and oriented more towards the future.

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David Lewin, Managing Director
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Background

A Swedish manufacturer of industrial fire protection systems sold and delivered equipment to a manufacturing company in the state of Michigan, United States. In May 2001, two employees of the U.S. company were seriously injured during working hours when they tried to extinguish a fire on company premises.

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David Lewin, Managing Director
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Background

The September 2010 issue of this series covered the controversial topic of auditors’ liability, and subsequently the September 2011 issue referred to the Consolidated Text of the Accounts Audit Act of July 1, approved by Royal Legislative Decree 1/2011 (RLD 1/2011), which abrogated the Accounts Audit Act (AAA) then in force. The RLD 1/2011 has been in force since July 3, 2011. The following provides an update to the September 2010 report and expands on the issue.

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David Lewin, Managing Director
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Introduction

A new regulation, the act on the Financial Liability of Public Servants for the Grave Violation of the Law (FLPS), may impact the Polish insurance market in the next few years. FLPS concerns the financial liability of public servants towards the State Treasury, the territorial government unit or other legal persons that bear liability for damages inflicted while exercising public authority. The Polish Parliament passed the act on January 20, 2011, and it became effective on May 17, 2011.

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David Lewin, Managing Director
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Introduction

Motor liability insurance is legally defined as being part of general liability insurance coverages in Norway. In order to have a valid claim in Norway under the rules of general liability, three cumulative conditions must be fulfilled: a basis of liability must be established, the claimant must prove an economic loss, and such economic loss must be caused by the act that is the basis of liability. The following is a discussion about how motor liability is regulated in Norway.

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David Lewin, Managing Director
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EU Directive and Italian Statutory Provisions

With EU Directive n.35/2004 on Environmental Liability (ELD), the European legislator aimed to establish a harmonized legal framework based on the principle that “the polluter pays.” The main objective of ELD is to prevent and remedy environmental damage, which is defined as damage to protected species and natural habitats (nature), damage to water and damage to land (soil).

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