Compliance with Domestic and Foreign Financial Sanctions Laws
In accordance with rules established by the United States Department of the Treasury, Office of Foreign Assets Control (“OFAC”) and the United States Department of Commerce, Bureau of Industry and Security (“BIS”), we are prohibited from contracting with or providing insurance or other benefits to any individuals, entities, vessels and countries appearing on OFAC’s list of "Specially Designated Nationals and Blocked Persons, "BIS’ “Denied Persons List,” or otherwise identified in connection with other economic sanctions programs that OFAC and/or BIS are charged with enforcing. Various foreign governments also prohibit us from contracting with or providing financial benefit to individuals or entities appearing on blocked or denied persons lists published by such foreign governments.
Each quote for coverage from a Summit-managed program is based on the information you or your authorized representative has provided to date regarding named and additional insureds under the quoted policy or policies. In the event that we learn that individuals, entities, vessels or countries that have a direct or indirect interest in the quoted insurance coverage are subject to U.S. or foreign financial sanctions laws, or appear on any domestic or foreign list of persons with whom we are prohibited from doing business or conferring financial benefit, Summit reserves the right to withdraw any quote in its entirety.