Is there a financial sanctions list ?

Is there a financial sanctions list ?

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Is there a financial sanction list of countries whom you should not do business with or maybe deemed to be risky from a professional indemnity insurance point of view

 

 

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By johngroganjga
27th Apr 2017 17:30

Most PI insurers exclude the USA and Canada.

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By tom123
27th Apr 2017 18:16

North America must be litigious, musn't it - our insurers (we make machinery) aren't keen on us selling there either - we have to pay extra.

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By Matrix
27th Apr 2017 19:31

You should check your PI terms or ask your insurers. My insurance covers advice to North America but any contract for services should be under English law and not US or Canadian law. I don't recall any others but these are the only countries where my clients have subsidiaries so did not ask.

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By GW
27th Apr 2017 19:42

Office of Financial Sanctions consolidated list of targets:

https://www.gov.uk/government/publications/financial-sanctions-consolida...

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By Jim100
27th Apr 2017 22:55

On my PII form it says if I have a connection to customers operating in a specified list of 15 countries then I need to inform my insurers. Some countries are obvious like Syria, North Korea. Rest are countries that have some political turmoil, war torn or is indicating we don't trust people in those countries like Russia.

I got a email today someone from Zimbabwe who wants to setup a UK company. In the end I have declined as just seems too risky coupled with the headache with insurers

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