OFAC settlements with Allianz & Chubb over Cuba travel insurance violations – reliance on EU Blocking Regulation an aggravating factor

OFAC has announced 2 settlements for $170,535, and $66,212 with Allianz Global Risks US Insurance Company (AGR US), and Chubb Ltd, respectively, for apparent violations of the Cuban Assets Control Regulations (CACR), 31 C.F.R, Part 515. OFAC Notice. AGR US AGR US has agreed to settle civil liability for 6,474 apparent violations of the CACR from August 2010 to January …

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About Maya Lester QC

Maya Lester QC

Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. The legal directories say she is the...

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