We use cookies to customise content for your subscription and for analytics.
If you continue to browse Lexology, we will assume that you are happy to receive all our cookies. For further information please read our Cookie Policy.
In cooperation with Association of Corporate Counsel
  Request new password

Search results

Order by most recent / most popular / relevance

Results: 1-10 of 47

New OFAC sanctions in the insurance industry

  • Edwards Wildman Palmer LLP
  • -
  • Iran
  • -
  • April 27 2011

On April 26, 2011 the Office of Foreign Assets Control ("OFAC") reported that another insurance company has been sanctioned for violating the Iranian Transactions Regulations

IFCPA potentially expands US sanctions against Iran to non-US insurers and reinsurers

  • Edwards Wildman Palmer LLP
  • -
  • Iran, USA
  • -
  • May 29 2013

President Obama signed the National Defense Authorization Act for Fiscal Year 2013 into law in January 2013, which includes a section entitled the

Iran Sanctions Update: Council Regulation (EU) No. 9612010

  • Reed Smith LLP
  • -
  • European Union, Iran
  • -
  • October 28 2010

ContextThe EU Council Decision of 26 July 2010 was only immediately effective against those to who it was addressed, i

Aon Energy settles with OFAC after alleged sanctions violations

  • Edwards Wildman Palmer LLP
  • -
  • Iran, USA
  • -
  • February 15 2011

Aon International Energy, Inc. ("Aon Energy") has entered a $36,000 settlement with the Office of Foreign Assets Control ("OFAC") after allegations that the broker violated the Iranian Transactions Regulations

EU sanctions against Iran - extended for insurers, reinsurers and brokers

  • Herbert Smith Freehills LLP
  • -
  • European Union, Iran
  • -
  • April 2 2012

The EU's on-going concern about Iran's nuclear program has led to the implementation of further measures designed to bring economic pressure to bear upon the Iranian regime

Iran's shipping industry suffers as foreign insurers withhold coverage

  • Edwards Wildman Palmer LLP
  • -
  • Iran
  • -
  • July 28 2010

According to a recent article in the Washington Post, "Tehran's ability to ship vital goods has been significantly curtailed as some of the world's most powerful Western insurance companies cut off Iranian shippers out of fear that they could run afoul of U.S. laws, the insurers say."

The Iran Threat Reduction Act insurers and reinsurers beware

  • Eversheds LLP
  • -
  • Iran, Syria, USA
  • -
  • September 27 2012

The Iran Threat Reduction and Syria Human Rights Act, the latest in an ever expanding arsenal of US-based long-arm jurisdiction statutory instruments, was passed into law on 10 August 2012, following extensive negotiation in the US legislature

California Department of Insurance settles suit over Iran investments

  • Barger & Wolen LLP
  • -
  • Iran, USA
  • -
  • February 6 2012

On January 27, the California Department of Insurance (“DOI”) issued a news release that it had reached a settlement in its lawsuit that sought to require insurers to disclose investments in companies doing business with Iran

A consensus emerges on Iranian sanctions: compliance may be easier for global insurers

  • Edwards Wildman Palmer LLP
  • -
  • Iran
  • -
  • July 30 2010

The enactment of the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2009 (the "Iran Sanctions Act"), signed by President Obama in the first week of July, threatened the status quo regarding the insurance and reinsurance by international insurance firms of risks relating to the Iranian petroleum industry, including cargos of oil and petrochemical equipment

New U.S. sanctions on Iran target shipping, shipbuilding, insurance, and trade in metals by non-U.S. companies

  • Chadbourne & Parke LLP
  • -
  • Iran
  • -
  • January 4 2013

The United States has enacted a new round of sanctions on Iran targeting non-U.S. companies that are conducting business with Iran related to shipping