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Insurance Industry › United Kingdom › Economic Sanctions

Pillsbury Winthrop Shaw Pittman LLP

What Lessors Need to Know: English High Court Rules on Russian Aircraft Losses

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The Judgment addressed joined insurance claims brought by major aircraft lessors whose aircraft and engines were stranded in Russia following the imposition of sweeping Western sanctions and Russian government measures which...more

Proskauer Rose LLP

Regulation Round Up - May 2025

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Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

Akin Gump Strauss Hauer & Feld LLP

New EU & UK Sanctions

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EU’s 12th Sanctions Package - On 19 December 2023, the Council of the European Union (EU) together with the Commission published its 12th round of sanctions....more

K2 Integrity

Implementation of the Russian Oil Price Cap and Key Compliance Considerations

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As the Russian invasion of Ukraine continues, so too does Russia’s isolation from the West. Member nations of the Group of Seven (G7)—the United States (U.S.), Canada, France, Germany, Italy, Japan, and the United Kingdom...more

BCLP

Banking Bites - June 2022

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New High Court case considers nature and scope of the Quincecare duty - In June, the Court of Appeal expanded the scope of a bank’s duty of care to protect its customers from fraud to encompass instructions by those other...more

Morrison & Foerster LLP

Following U.S. Lead, UK Office Of Financial Sanctions Implementation Issues Maritime Guidance

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Much of the world’s focus is on the COVID-19 pandemic, and rightfully so, but sanctions regulators also have their gazes fixed on another issue: the maritime industry. On May 14 2020, we saw the U.S. Departments of State and...more

Cozen O'Connor

English Court Considers if U.S. Controlled Marine Insurers Must Pay Claim in Light of Sanctions

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Mamancochet Mining Limited v Aegis Managing Agency Limited and Others - In this important recent marine insurance case, London based but U.S. controlled insurers were ordered by an English court to pay a cargo insurance...more

A&O Shearman

Mere risk of exposure to sanctions insufficient for underwriters to avoid liability

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Underwriters could not rely on a sanction limitation and exclusion clause in an insurance policy, which referred to insurers’ “exposure” to sanctions, to avoid liability for a claim simply because there was a risk that the...more

Hogan Lovells

UK: Sanctions exclusion clauses: What can we learn from Mamancochet Mining Limited v Aegis Managing Agency Limited and Others...

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On 12 October 2018 the High Court handed down judgment in a case that concerned a claim brought against insurers for payment under a marine cargo policy relating to the theft of steel billets from an Iranian port in late...more

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