Iran sanctions and the insurance industry

This project will comprise a London workshop bringing together policy-makers and practitioners to explore Iran sanctions in the specific context of the insurance industry. The obligation to comply with sanctions constitutes an important commercial consideration with numerous associated challenges that vary considerably according to sector. Implementation can be costly and complex and it can be difficult to determine whether compliance policies and procedures meet the challenges. However, the consequences of being found in non-compliance with sanctions are significant. Firms thus have a strong interest in fully understanding and keeping pace with intricate and rapidly-evolving sanctions regimes. The workshop will further industry knowledge and understanding with regard to the challenges associated with sanctions and their effective implementation.
The workshop will also benefit policy-makers. Sanctions are as much a political tool as an economic one and the political symbolism associated with implementing sanctions means that policy-makers are often required to legislate on sanctions regimes without sufficient time to fully consider the challenges that these regimes will pose to commercial stakeholders. The workshop will offer policy-makers an opportunity to better understand and thus mitigate the challenges posed by sanctions to industry.