P&I clubs increase Iran fall-back limit to EUR100mn

The International Group (IG) of protection and indemnity clubs
has obtained an increased limit of EUR100mn ($112mn) for its Iran
"fall-back" cover, the group announced yesterday (14
April).
The new limit is an increase of EUR30mn from the initial figure.
The group also secured underwriters' agreement to a second full
reinstatement of cover.
The IG has been negotiating with the US Treasury's Office of
Foreign Asset Control (OFAC) to allow US-domiciled (re)insurers to
participate in an interim "fa