中国船东互保协会 - Circular (UW) 01/2016 Iran Sanctions

Circular (UW) 01/2016 Iran Sanctions - "fall-back" Reinsurance Update

The continuing application of US primary sanctions to US domiciled reinsurers participating in the Group's reinsurance arrangements means that Members remain exposed under Club sanctions' rules to the risk of partial reinsurance shortfall in respect of non-certified liabilities towards or incurred by Iranian interests. The Internatinal Group is working on a "fall-back" reinsurance protection to cover the default risk.

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