With Iran’s impressive oil and gas output, the marine and energy sectors are regarded as important areas of focus for Insurers and Reinsurers. As a result of the release of EU sanctions, or the lifting of “restrictive measures,” as it is known, EU Insurers and Reinsurers are now able, in principle, to provide cover to oil companies, as well as to cargo owners, ship owners and portauthorities. The activities and associated services which are no longer prohibited extend to financial, banking and insurance measures and include the oil, gas and petrochemical sectors, shipping, shipbuilding and transport sectors.
An update on the lifting of sanctions against Iran
A version of this article appeared in the 11 March 2016 edition of Insurance Day