Luxury Insurer Fined for Oligarch Coverage

Posted 12/22/23

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced a $466,200 settlement with Privilege Underwriters Reciprocal Exchange (PURE). PURE agreed to settle its potential civil liability for 39 apparent violations of OFAC's Ukraine-/Russia-Related sanctions.

Based in White Plains, New York, PURE primarily offers insurance policies and coverages for luxury homes, automobiles, art collections, jewelry, and watercraft

This item is available in full to subscribers.

Please log in to continue

Log in