International Group reaches compromise with US authorities over Iran

The International Group of P&I Clubs (IG) has announced it has
reached an agreement with the US Treasury's Office of Foreign
Asset Control (OFAC) to allow US domiciled (re)insurers to
participate in an interim "fall back" programme which
will provide cover for liabilities relating to Iran, the group
announced today (22 March).
Following extensive negotiations, the IG confirmed it had created a
workaround, with OFAC's approval, to provide reinsurance cover
in the event that losses can't be re