Tagged: OFAC Cuba Sanctions

Travel Insurance Companies Hit with OFAC Enforcement Actions

The Treasury Department’s Office of Foreign Asset Control (“OFAC”) continues to rack up settlements.  Two travel insurance companies recently settled OFAC enforcement actions for violations of the Cuban Embargo. Allianz Global Risks Allianz Global Risks US Insurance Company (“AGR US”) is the US subsidiary of the German financial company.  AGR US operates AGR Canada as a branch office in Toronto, Canada.  AGR US agreed to...