Risk Report - Insurance Industry Advised To Mitigate Sanctions and Embargoes impacts

International Trade Finance -

For many years, sanctions have financially isolated Iran by precluding any transactions with Iranian persons or entities, particularly in sectors such as insurance, banking and energy. Toby Duthie explains that most insurers and brokers will insist that they do not deal in sanctioned territories or with designated persons (DPs) or entities. He advises that the problem with this kind of complacency may lay in the complex nature of transactions that form commercial insurance contracts - and that they may be doing so without even realizing.

Read Full Article