X
    X
    X
    X

    Edwards Wildman’s Jeff Etherington Comments on How the Reinsurance Industry is Affected by Sanctions in Reactions

    News
    Jeff Etherington, a partner in Edwards Wildman’s Insurance and Reinsurance Department in New York, discussed how the reinsurance industry is playing a greater role than ever in international diplomacy as a result of sanctions against Iran and North Korea in Reactions. In the article, “Reinsurance Gets Caught Up in Sanctions Fight,” Etherington said, “As a political matter that’s a sign the toughened EU and US sanctions are really making a difference, because what’s happened is the reinsurers have said they want nothing to do with anything that has a hint of Iran on it, so they’re writing endorsements that exclude that business in the new contract years.” Furthermore, Etherington continued, “The Office of Foreign Assets Control has at least publicly, in some of its interpretations, adopted a very expansive reading of its authority. They have suggested that they have an ability to sanction companies and persons who have no connection with the US and no business in the US, merely because they are aiding a sanctioned country.”

    Explore Additional Topics

    Disclaimer

    Please understand that your communications with Locke Lord LLP through this website do not constitute or create an attorney-client relationship with Locke Lord LLP. Any information you send to Locke Lord LLP through this website is on a non-confidential and non-privileged basis. Therefore, do not send or include any information in your email that you consider to be confidential or privileged.