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For risk managers whose operations expand into Europe, cultural divides and differing levels of exposures aren’t the only issues on their minds in the wake of a court ruling that may drive changes in the way they place insurance coverage.

A European Court of Justice ruling in June 2001–Kvaerner v. Staatssecretaris, referred to as “Kvaerner”–barred corporations from writing all of their European insurance coverage from any European Union country with the lowest taxes simply as a means of avoiding higher taxes in other EU countries where the company in question had significant exposures.

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