SOLIDARITY FUND
June 1st, 2004
BY KEITH NUTHALLIT is early days, but the European Union's (EU) Solidarity Fund, subsidising the costs of large-scale disasters, shows every likelihood of being a permanent feature of the EU risk management scene. We're not talking small beer here; the fund paid out Euro 104.7 million last year and Euro 728 million the year before that, easing the consequences of disasters such as floods, earthquakes and forest fires. To a philanthropist this would appear motherhood-and-apple-pie in its goodness, but for the insurance industry it's not that simple and questions ...
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