The U.S. Department of Treasury fined a New York based company $271,000 on Thursday for insuring North Korean ships between 2008 and 2011.

The Office of Foreign Assets Control (OFAC) said the company, called Navigation, was responsible for 48 sanctions violations involving vessels from Iran, Cuba and North Korea.

“Between May 8, 2008 and April 1, 2011, Navigators and its London, U.K. branch (“Navigators U.K.”) issued global protection and indemnity (“P&I”) insurance policies that provided coverage to North Korean-flagged vessels,” the OFAC press release reads.

Representatives from Navigator’s Chinese and London offices declined to comment