Monday, April 2, 2012
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Article by Albrecht Birke and Dr. Friedrich Isenbart in Versicherungswirtschaft 7/2012
With the regulation (EU) 961/2010, the EU issued a prohibition to grant insurance cover for Iranian risks. Many German insurers consequently added a so-called sanctions clause into their contracts.
The article at hand points out: A declaratory clause on its own does not provide transparency and cannot replace comprehensive guidance and advice.
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