He said many of the exported petrochemical shipments from Iran have
the protection and indemnity (P&I) insurance cover while others are insured
by domestic companies.
Hemmati underlined the positive collaboration of insurance companies
with petrochemical producers in the country, adding, "There are no
problems in insuring petrochemical shipments from Iran and the current status
of exports is acceptable in the sector."
He said Iran's insurance industry managed to work out solutions to
safeguard the country against the sanctions and could prevent many of their negative
outcome.
Hemati noted that one of these solutions was the creation of P&I cover
and devising a mechanism of opening special accounts to circumvent the sanctions.
According to the head of the Central Insurance of Iran, strengthening
the country's insurance industry's ability to cover the risks of the sanctions and
strengthening insurance relationship with developing countries is another solution
to deal with some restrictions.