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Sanctions Risk and Compliance Insurance

Insurers could face sanctions penalties if regulations diverge on Russia oil exports

  • Dynamic pricing mechanism kicks in next month
  • Existing clauses drafted on assumption Western countries would maintain united front
  • Wording may remain ‘sufficiently flexible’ but claim is untested

  • Analysis

Hull, cargo and P&I underwriters may not be able to follow US leads unless Americans fall into line with Brussels rules, Lloyd’s Market Association stated

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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