On November 13, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control issued new and amended Frequently Asked Questions regarding compliance within the insurance industry. OFAC amended FAQs 61, 62, 63, 64, 65, 68, 69, 102, 103 and 104 as part of its ongoing process of reviewing published guidance to ensure information remains current. OFAC also issued new FAQs 1199 and 1200 that discuss scenarios under which insurance companies can pay claims under a policy issued to a blocked person or losses caused by a blocked person.
OFAC Recent Action | FAQs 61, 62, 63, 64, 65, 68, 69, 102, 103, and 104 | FAQ 1199 | FAQ 1200