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May 29, 2013

US Extraterritorial Sanctions Targeting Non-US Insurers for Iran-Related Activities

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The US government has again expanded the scope of its Iranian extraterritorial sanctions program with the enactment of the Iran Freedom and Counter Proliferation Act of 2012 (the “IFCPA”). Among other things, the IFCPA provides for ISA type sanctions against non US insurers who conduct underwriting services or insurance or reinsurance activities relating to Iran. The measures are extremely broad and are designed to punish non US insurers who engage in the Iranian market. The new measures are effective July 1, 2013.

View full memo, "US Extraterritorial Sanctions Targeting Non-US Insurers for Iran-Related Activities"

Authors and Contributors

Philip Urofsky

Partner

Litigation

+1 202 508 8060

+1 202 508 8060

Washington DC

Danforth Newcomb

Of Counsel

Litigation

+1 212 848 4184

+1 212 848 4184

New York

Stephen Fishbein

Partner

Litigation

+1 212 848 4424

+1 212 848 4424

New York

Brian G. Burke

Partner

Litigation

+1 212 848 7140

+1 212 848 7140

+86 21 6136 5000

+86 21 6136 5000

New York