Iran Sanctions being lifted…but still in place (Updated 3 Sept 15)

Update 3 September 2015: As the US moves towards congressional approval of the deal with Iran, timelines are becoming a little clearer now.  Whilst, as at today’s update, the sanctions remain fully in place it appears more likely that the deal will be approved by the US, then the UN and, of course, Iran. At the same time, there appears ...

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The New Marine Insurance Act 2015 (sadly now just called the Insurance Act 2015)

It’s fair to say that Marine Insurance isn’t well known for its rapid evolutionary pace. The Marine Insurance Act 1906 codified in law the practices at the time, which themselves dated back another 200 years in some parts.  ‘Fast’ forward another 110 years and the new Insurance Act 2015 (no longer the Marine Insurance Act) will finally become law in ...

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Construction Projects – what’s the Marine connection?

Almost every week there is news of a commitment to finance construction projects around the world, either at a governmental level or through private investment. For most large multi-year projects, the necessary materials are not available domestically and have to be shipped in from around the world in a complex logistical operation, with each component arriving at the project site just ...

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Cuban Sanctions – Cargo Insurance

Given the US and Cuba are restarting their diplomatic relationship, the sanctions that have been in place for over 50 years are anticipated to be softened and finally extinguished completely.  Whilst regular trade to/from Cuba has been complicated and rare until now, this is set to change and quickly – so how does is your insurance affected? Cargo Insurance Cargo insurances often (but ...

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