London, 5th October 2023: The Lloyd’s Market Association (LMA) today published two sanctions suspension clauses. Since September last year, the LMA has been consulting across the insurance industry and with specialist sanctions…
Sanctions and the maritime industry: Part 1 – Overview of OFAC and OFSI advisory notes In this first in a series of articles on sanctions and the maritime industry, we…
According to OFAC, between May 2008 and April 2011 US-based Navigators and its London branch: issued global protection and indemnity (“P&I”) insurance policies that provided coverage to North Korean-flagged vessels…
14 August 2014 – The US Office of Foreign Assets Control (OFAC) has issued revised guidance concerning the status of entities owned by individuals and entities whose property and interests…