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Canada and the US have such close business ties that it is not uncommon for US multinationals to think the two countries are essentially the same when it comes to the insurance market's requirements. But in some respects, the Canadian market is much more open and competitive than the market in the US. In addition to compliance issues, multinationals need to know that the terms and conditions offered under Canadian policies are also often quite different from those offered in US policies. Canada and the US may be close allies in many respects, but the risks and insurance requirements can be quite different. Knowledge of those differences can help protect multinationals against unexpected, and often avoidable, regulatory and business risks.
The Canadian Difference Ellen Moore Risk Management; Sep 2009; 56, 7; Docstoc pg. 60 Reproduced with permission of the copyright owner. Furt
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