Bulletin Urges Compliance With Executive Order

Contact: Mike Bownes, General Counsel


Alabama Insurance Commissioner D. David Parsons today issued a bulletin to all Alabama insurance companies urging them to review their records and comply with an executive order signed by President Bush to freeze the assets of anyone named on a federal list of persons who permit, threaten to commit or support terrorism.

“I am asking all insurance companies in the state of Alabama to voluntarily comply with the president’s order to freeze any and all funds of the named individuals and organizations,” Parsons said. “In issuing this bulletin, I want to make sure Alabama’s insurers are aware of the order and to advise them that violators of the order may be subject to sanction.”

President Bush issued the executive order September 24, 2001, instructing organizations to freeze U.S. assets of and block transactions with 27 individuals and organizations. This list is published on the U.S. Department of the Treasury, Office of Foreign Assets Control, Web site at www.treas.gov/ofac. The Federal Bureau of Investigation (FBI) also published a list of people who are under investigation in connection with the Sept. 11 attacks.

“In addition, insurers should periodically review the U.S. Treasury and FBI’s Web sites for updates regarding those suspected of conducting or financing terrorist activities,” Parsons added. “As President Bush requested, I encourage Alabama’s insurance industry to leave no stone unturned in the quest to starve terrorists of their funding and bring them to justice.”