LMA – “Managing” sanctions: time for a rethink?

Author - Neil Roberts

It is easy to understand why the UN would wish to restrict nuclear proliferation by using sanctions. Speaking at the Greek British Shipping Forum recently, it was a chance to share views. When commerce talks about managing sanctions, it usually means coping and not making a mistake. Authorities and regulators do not talk about managing or harmonizing sanctions, so they tend to multiply, resulting in ever more complexity and expense for industry. For insurers and brokers, there is a fundamental need for due diligence amidst a constantly evolving regulatory backdrop.