Insurers and brokers wanting to expand in emerging countries are facing a stark choice: break the Bribery Act or walk away from business
• It is difficult to do business in Russia and China without breaking the law, as corruption is so endemic
• The new Bribery Act will mean directors face up to 10 years’ imprisonment if staff are caught in breach of the rules
• It will be a challenge for Lloyd’s to operate strictly within the act when it opens its Moscow office this year
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