Foreign insurers are considering Iranian markets as an acceptable risk now that the Iran Nuclear Agreement has been agreed to by world powers. These specialty insurers remain a little hesitant however, as there is no way to predict when the $8 billion dollars in frozen funds will be released. U.S. Congress still needing to vote on the issue so insurance companies are mostly watching and waiting on the sidelines although each is eager to be the first to cover their market when the funds do become available. Insurer:
Historically we have dealt with Iran; it’s interesting to see what’s happening there. From a marine perspective, there are some large ship owners in Iran. There are lots of cargo, port terminals.