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Insurers taking the Lion's share?

Written by James Roberts and Benjamin Craven for Insurance Day - reproduced with the kind permission of Informa

The latest UK case on corporate manslaughter will be of interest to insurers whose general liability policies provide cover for defence costs. Huge fines for the insured can translate to correspondingly large defence costs (and prosecution costs) for insurers.

Lion Steel Equipment Ltd became the third company to be sentenced for corporate manslaughter when it was fined £480,000 ($748, 474) plus prosecution costs of £84,000.

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