While much remains to be determined, the recent easing of U.S.
restrictions on travel to and trade with Cuba may bring
opportunities for U.S. and global insurance companies. However,
many questions and obstacles remain. This article touches on some
of them.
Travel Insurance
Americans may now travel to Cuba for one of 12
purposes1 without a specific license from the U.S.
Office of Foreign Assets Control (OFAC).2 However, even
though the United States is now allowing travel, the Cuban
government requires that all travelers have insurance to cover any
medical expenses incurred while in Cuba.3
Insurance companies domiciled in the United States selling
insurance to U.S. citizens traveling to Cuba are authorized to pay
for services involving health insurance, life insurance, travel
insurance, and emergency medical services in Cuba.4
However, as tourist travel is still banned, U.S. insurance
companies can only provide insurance for those persons authorized
to travel
