OFAC Sanctions and Insurance

Under U.S. law, all businesses—including insurers—are legally bound by the Office of Foreign Assets Control (OFAC) regulations. New sanction mandates introduced in 2025 expand compliance expectations for life insurers and U.S.-based companies operating both domestically and abroad. These new mandates have widened the list of sanctioned entities—including family and associates of Russian oligarchs with properties in the U.S. and the businesses supporting Mexican cartels. This broader list means a higher risk that these entities may be hidden in your book of business.

This on-demand session demystifies the OFAC rules and explains how they may apply to insurers when issuing policies, accepting premium payments, or engaging with individuals or entities on the Specially Designated Nationals and Blocked Persons List (SDN). Whether you are in underwriting, compliance or operations, this webinar can help you understand the risks, responsibilities and real-world implications of OFAC for the life insurance industry.

In this session, you’ll learn:

• Why OFAC sanctions are relevant to Life Insurers
• How recent mandates have increased the number of sanctioned entities
• When you should check your book of business for compliance
• How automation can help you manage compliance

Bunny Brownlee is a senior product manager and AML/compliance specialist for LexisNexis® Risk Solutions. Bunny specializes in Office of Foreign Assets Control (OFAC), Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) compliance, which includes customer due diligence (CDD), enhance due diligence (EDD), sanctions and politically exposed person (PEP) screening. She has more than 15 years of experience helping the insurance industry and financial institutions apply data and technology solutions to support OFAC, AML and sanctions compliance programs. Bunny is a Certified Anti-Money Laundering Specialist (CAMS).