Lloyd's in review of sanction controls over US regulator fears
Lloyd’s is currently reviewing the controls used by members of the market to prevent breaking of sanctions with countries such as Iran and North Korea.
According to The Telegraph, regulators in the US are concerned that insurers could be either deliberately or inadvertently providing services to businesses and individuals either directly or indirectly linked to countries that are currently the subject of international sanctions.
While many Lloyd’s members have no US-based business, it is thought that American regulators could attempt to bring action against firms that are either owned by a US parent group or have American investors, or those
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