News From Law.com
Last June, a rusting tanker named Sincere 02 picked up oil at an Iranian port and steamed across the Persian Gulf on its way to the United Arab Emirates.U.S. sanctions forbid Western companies from knowingly doing business with Iran. But for the next seven months, long after an advocacy group publicized Sincere 02's voyage, the ship continued to carry proof of insurance from American Club, the smallest of the 12 companies that cover most of the world's oceangoing ships against spills and accidents, and the only one based in the U.S.
Property & Casualty
February 12, 2024, 12:08 AM