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
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