Iran Sanctions : The Impact on P&I and H&M Insurers

Abstract

The main objective with this thesis is to define the scope of the latest round of Iran sanctions, in respect of the provision relating to marine insurance, as enacted by the UN, EU and the US. These sanctions form part of a sanctioning regime resulting from a long standing dispute between the international community and the Islamic Republic of Iran concerning the latter's nuclear enrichment activities. Among the many restrictions imposed by the sanctions is the restriction on providing insurance to or on behalf of Iran or Iranian persons and entities as defined in the various sanctioning regimes and the aim of this thesis is to define the scope of these restrictions and to examine the consequences to and response of the insurance industry to the restrictions on providing insurance.