Context
OFSI has published an amendment to General Licence INT/2022/2009156. This licence allows UK designated persons to make certain permitted payments to UK insurers from a frozen bank account, and allows UK insurers to receive these payments. The licence applies to all UK autonomous sanctions regimes.
Key points to note
General Licence INT 2022/2009156 has been amended to include within permitted payments:
- Terrorism Insurance
- Property Owners’ Liability Insurance
- Claims Preparation Insurance
This licence took effect on 22th July 2022 and is of indefinite duration.
Next actions
None – for information and awareness, but any persons intending to use these General Licences should consult the copy of the Licence and refer to OFSI’s General Guidance