McGriff, Seibels & Williams of Texas, Inc
HQ Country of Company:
USA
Agency:
OFAC
Location of Sentencing:
Washington D.C.
Date:
Description:
OFAC alleged that McGriff, a U.S. insurance brokerage firm specializing in insurance coverages for the energy sector, violated the ITR by its unlicensed design, revision, and placement, with foreign insurers, of six commercial multiple peril (“CMP”) insurance policies that insured the risks of a submersible oil rig in Iranian waters. The policy periods were between May 1, 2004, and April 31, 2005.
Fine:
Total Fine
$122,408.00
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$122,408.00
Receive Iran News in Your Inbox.
Eye on Iran is a news summary from United Against Nuclear Iran (UANI), a section 501(c)(3) organization. Eye on Iran is available to subscribers on a daily basis or weekly basis.
×