95RELEVANCE
OFAC updates sanctions lists as part of its modernisation initiative
US OFAC
INSURANCE IMPACT
Re-screen insureds, beneficiaries and counterparties against the updated identifiers and consolidated entries.
REGULATORY HORIZON
Good evening.
Here’s what changed across your regulatory landscape.
6 developments
96RELEVANCE
UK financial sanctions guidance
UK OFSI
INSURANCE IMPACT
Review screening controls, policy exclusions and claims escalation for newly designated parties.
91RELEVANCE
21st package of sanctions targets energy, financial services and crypto
EU Council
INSURANCE IMPACT
Map new restrictions against insureds, beneficiaries, vessels and reinsurance counterparties.
76RELEVANCE
Beneficial ownership standards and guidance
FATF
INSURANCE IMPACT
Potentially raises verification expectations for corporate insureds and complex ownership structures.
68RELEVANCE
Foreign Corrupt Practices Act enforcement resources
US DOJ
INSURANCE IMPACT
Relevant to D&O underwriting, territorial exposure and conduct-risk questionnaires.
89RELEVANCE
LMA market bulletins: sanctions and clause developments
Lloyd's / LMA
INSURANCE IMPACT
Review clause consistency across wordings, endorsements and delegated authority arrangements.