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What’s New: In brief (June 16, 2005)


June 16, 2005   by Canadian Underwriter


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The Canadian Agricultural Income Stabilization (CAIS) has recently received a number of changes to ensure the program is more responsive to the needs of producers, which represent 149,258 individuals nationwide. The CAIS increasingly offers significant assistance to CAIS producers, helping them to protect their farm income (eligible income minus eligible expenses) from both small and large declines due to circumstances beyond their control to compensate instances when the producer’s income falls below their reference margin (average income from previous years). CAIS and Production Insurance are the main government programs helping producers manage business risks. The total value of reference margins protected under the program for 2005 is $8.5 billion.

Four Canadian pharmacies have applied for licenses that will allow them to export drugs to the U.S. under regulations recently drafted by the Rhode Island Health Department, but their applications hadn’t been processed before the latest revisions. The recent revisions to rules proposed by the Rhode Island Health Department, meant to govern drug imports from Canada, state that Canadian pharmacies must buy $5 million in product liability insurance, offer patients counseling on their medications and maintain patient confidentiality. These proposed regulations mean Canadian pharmacies may only ship U.S. Food and Drug Administration approved drugs, thus Canadian products being exported must meet and follow FDA rules regarding handling and processing of goods. In addition to enforcing the mandatory purchase of product liability, the draft guidelines prohibit imports of specific kinds of drugs controlled substances, drugs that can spoil in transit and drugs that are often counterfeited.


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