Navigators insurance company settles sanctions violations with OFAC

Navigators Insurance Company (NIC) has paid $271,815 to OFAC in settlement of its potential civil liability for 48 apparent violations of several US sanctions regimes. The violations occurred between 8 May 2008 and 1 April 2011, whereby NIC and its London branch issued global protection and indemnity insurance policies that covered North Korean-flagged vessels and incidents occurring in or involving...

This content is for subscribers only

To continue reading please login or subscribe.

SudanSudan North KoreaNorth Korea IranIran United StatesUnited States

About Michael O'Kane

For all site-related issues, including subscription and payment issues, please contact info@europeansanctions.com.
Michael is Senior Partner at Peters & Peters LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters & Peters LLP...

See profile for Michael O'Kane >