Sanctions and the insurance industry: challenges, risks and opportunities

Abstract

Scholars and policymakers tend to see economic sanctions as an important tool of coercive diplomacy, even if the effectiveness of sanctions in changing the policies of target states remains highly contested. Though much of the research on sanctions focuses on their effects at the state level, this article argues that analyzing their effectiveness must begin with the industrial sectors they are meant to affect. Through analysis of restrictive measures currently in place against Iran, this article explores the impact of sanctions at the working level within the insurance industry, drawing on qualitative data gathered as part of a recent workshop funded by the UK Economic and Social Research Council (ESRC) and industry partners.