New York insurers’ investments in firms engaged in Iranian energy sector activities treated as ‘nonadmitted’
On 13 November 2013, New York enacted Chapter 481 of the Laws of 2013, which adds a new section 1415 to the New York Insurance Law effective 11 February 2014. The new law treats as nonadmitted assets any investments made by domestic and foreign licensed insurers in designated persons engaged in energy sector investment activities […]