Counterterrorism Finance and
Anti-Money Laundering

The legal framework includes the USA PATRIOT Act, the Treasury Department Financial Crimes Enforcement Network (FinCEN) Guidances and Anti-Money Laundering and Suspicious Activity Reporting Regulations, the Antiterrorism Act, the International Emergency Economic Powers Act, the Foreign Corrupt Practices Act, the UK Proceeds of Crime Act, the UK Terrorism Act, and the EU Directives on Money Laundering.

Our experience includes matters such as:

• advising life insurers on developing policies and procedures addressing their own compliance and testing obligations under anti-money laundering and suspicious activity reporting requirements, including requirements for their producers and agents
  
  
• assisting in responses to inquiries from federal and state regulators
  
  
• addressing missed reports.

Export Controls and Economic Sanctions

The legal framework includes the International Emergency Economic Powers Act, the Comprehensive Iran Sanctions, Accountability and Divestment Act, the Export Administration Act, the Global Terrorism Sanctions Regulations, the Treasury Department Office of Foreign Asset Control (OFAC) Guidances and Economic Sanctions Regulations, the Commerce Department Bureau of Industry and Security Export Administration Regulations, the Trading with the Enemy Act, the Anti-Boycott Act, and the EU Directives and UN Resolutions on Economic Sanctions.

Our experience includes matters such as:

• advising insurers and reinsurers on their own exposures and obligations concerning OFAC economic sanctions, as well as exposures arising from their insureds, cedents, producers, intermediaries and other business associates, and structuring appropriate policies, procedures and controls to meet due diligence requirements
  
  
• advising clients on the liability of US parents for acts of foreign subsidiaries and non-US parents for acts of US subsidiaries
  
  
• advising clients on personal liability of claims and underwriting employees, directors or officers who are US citizens
  
  
• responding to subpoenas
  
  
• assisting and representing clients in enforcement actions
  
  
• advising clients on inconsistencies among US, EU and UN economic sanctions

Cybersecurity

This rapidly-evolving legal framework includes HIPAA, HITECH, the Gramm-Leach-Bliley Act,the CAN-SPAM Act, the USA PATRIOT Act, US state regulations with international implications, the EU/US Safe Harbor program, and other laws and regulations relating to information created and transmitted among the US, the EU and other jurisdictions.

Our experience includes matters such as:

• advising insurers and reinsurers on cybersecurity risk management and regulatory compliance
  
  
• advising and representing clients in responses to data breaches
  
  
• providing coverage advice regarding policies issued to insureds.

Private Litigation and Disputes Concerning Terrorism and National Security

The legal framework includes the Terrorism Risk Insurance Act, the SAFETY Act, the Defense Base Act, the International Emergency Economic Powers Act, the Antiterrorism Act, the Alien Tort Statute, the Torture Victim Protection Act and the interpretive case law.

Our experience includes matters such as:

• successfully defeating class certification in an action seeking multi-year refunds of alleged premium overcharges for coverage mandated by TRIA
  
  
• providing coverage advice with respect to insureds who made payments to guerrilla and paramilitary groups designated as Foreign Terrorist Organizations and Specially Designated Global Terrorists
  
  
• arbitrating numerous reinsurance disputes in the US and Europe arising from 9/11, including issues such as the number of occurrences, the application of war exclusions, and unique points of contract interpretation
  
  
• representing one of the parties in the Second Circuit case on the scope of the dispute resolution and jurisdictional provisions of the Air Transportation and Safety System Stabilization Act enacted after 9/11
  
  
• developing protocols for the expeditious payment of reinsurance claims in the aftermath of 9/11
  
  
• litigating cases involving personal injury, property damage, pollution and business interruption claims arising from attacks on an insured's premises on 9/11
  
  
• arbitrating disputes involving Pool Re (the Government terrorism mutual in the UK) advising clients on travel insurance exclusions in connection with the 2006 Israel-Lebanon conflict
  
  
• assisting in the factual investigations and legal analysis concerning reinsurance claims arising from incidents in North Korea involving government-controlled insureds.

Political Risk, Contract Frustration, Trade Credit, and Kidnap Ransom and Extortion Covers

Our experience includes matters such as:

• the investigation, debt rescheduling, and resolution of trade credit insurance issues concerning the Oman Blue City project, involving the Omani Government and various Kuwait and Qatar investment institutions
  
  
• the Caithness and Geo thermal power stations and the actions taken by the Indonesian government
  
  
• interference with various power projects by the Pakistani government
  
  
• a diamond mine concession in Angola
  
  
• the pesification of the Argentinean peso
  
  
• a large Indonesian coal export contract
  
  
• Eastern European ship building projects
  
  
• advice on terms and compliance of kidnap, ­ransom and extortion covers.
  

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