Insurance companies
OFAC screening for insurance companies
Screen policyholders, claimants, and beneficiaries against OFAC sanctions lists at every touchpoint.
- Daniel ReyesNew policyholder · 09:12 No match
- Petrov Logistics LLCClaimant · similar name on the UK list Check 78%
- renewals-november.csv412 policyholders uploaded 1 to review
Insurance companies are required to screen policyholders, claimants, beneficiaries, and other parties against OFAC sanctions lists. OFACScreen helps P&C, life, and health insurers automate screening across the policy lifecycle.
How insurance companies use OFACScreen
Policy issuance
Screen applicants and named insureds before binding coverage to prevent issuing policies to sanctioned persons.
Claims processing
Screen claimants and payees before any money goes out.
Beneficiary screening
Screen life insurance beneficiaries at designation and again before payout.
Reinsurance
Screen reinsurance counterparties and cedants the same way you screen policyholders.
What OFAC asks of insurance companies
Screening spans the policy lifecycle
Issuance, renewal, claims, premium payments, and reinsurance are each a point where a sanctioned party can enter the file. Screening at issuance alone leaves the other four uncovered.
Claims are where insurers fall short
The pressure to pay a claim quickly runs straight against the need to screen the claimant and the payee before funds leave. That conflict is the reason claims screening is the step most often skipped.
Federal requirements are the floor
The NAIC has issued guidance encouraging insurers to screen, and individual states can add obligations on top of the federal ones.
Screen the payee before the claim is paid
Check policyholders, claimants and beneficiaries, and keep the record for each file. 14 days free, no card.
OFAC screening for every industry
- Banks & credit unions Account holders and wire parties
- FinTech & payments Users, merchants and payees
- Auto dealers Buyers in every sale and financing
- Mortgage & lending Borrowers and co-signers
- Real estate & title Every party to a closing
- Gaming & casinos Players and high-value payouts
- Cryptocurrency The people behind accounts
Try OFACScreen free
Start your 14-day free trial. No credit card required. Screen against 14 sanctions and export-control lists in seconds.