Gordon J A Dixon
Sanctions is a word sometimes thrown about by politicians, but it’s an issue that insurers need to be aware of due to their wide-ranging impact. Intelligent Insurer investigates.
Sanctions. It’s a word you hear on the news and then dismiss as a subject that won’t affect you. However, it’s a subject that every insurer needs to take seriously. It might mean the difference between survival and disaster.
Insurance is an increasingly international business, with tendrils of finance spreading everywhere. It’s because of this that insurers need to make sure that the risks that they are covering aren’t in some of the less salubrious areas of the world.
Just as important, insurers also need to make sure that they aren’t financially linked to a person or a company that has been targeted by international sanctions. If they are there can be financial penalties—or even legal consequences.
This content is only available to readers with a paid subscription.
For access to features, regular news, expert comment and our print publications – subscribe here.
If you have a subscription to Intelligent Insurer, Login here.
Intelligent Insurer is offering a two week free trial – register and select “Free Trial” to begin access to the full Intelligent Insurer archive and read the latest news and features.
News stories up to three days old on Intelligent Insurer are freely accessible. To access the archive you will need a paid subscription.
To access in-house feature articles and expert comment you will need to take out a paid subscription. A free trial will give you access to all website content for two weeks.
Sanctions, Insurance, Lloyd's, Matrix, CMS, Robert Easton, Alex Denslow, London, UK, Europe, Iran, Asia-Pacific