I am not sure that a foreign company, which does business all over the world including the U.S. could be held as doing business with a prohibited country because the U.S and perhaps other Countries have entered into an agreement to not do any business transactions with said Country. If the Country where the carrier is licensed and domiciled has not entered into the agreement it would seem that this is very much an over reach by the Department of New York Insurance Commission. It would seem to me that New York has no status in the case as it is a Federal matter at best.
I am not sure that a foreign company, which does business all over the world including the U.S. could be held as doing business with a prohibited country because the U.S and perhaps other Countries have entered into an agreement to not do any business transactions with said Country. If the Country where the carrier is licensed and domiciled has not entered into the agreement it would seem that this is very much an over reach by the Department of New York Insurance Commission. It would seem to me that New York has no status in the case as it is a Federal matter at best.
So what happenened to this story?
So I guess this one just died away?