Insurers told to remove exclusions related to embargoed countries by Brazil’s Insurance Regulator

Source: Business Insurance

August 14, 2019 Brazil’s insurance regulator has ordered insurers to remove clauses denying transport insurance to Brazilian companies that trade with embargoed countries by Sept. 6, reports. The regulator said that insurers have included coverage exclusions in insurance policies for firms with transport operations in countries facing U.S. sanctions such as Iran and Venezuela.