NU Online News Service, May 6, 3:21 p.m. EDT
Insurers need to step up their compliance knowledge of sanctions if they want to avoid a fate similar to HHC Insurance Holdings, which paid a fine of over $38,000 for insuring aircraft used in Iran.
According to attorneys Michael Kurtis and Sue Stead with the law firm Nelson Levine de Luca & Horst, the recent fine of $38,448 to settle allegations of violations of the Iranian Transactions Regulations points to a rise in concern over sanction regulations that are growing as turmoil grips the Middle East and North Africa.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
