Lloyd’s gives NRA the bullet
Lloyd’s Corporation has terminated its involvement with all programs offered, marketed or endorsed by the US National Rifle Association (NRA).
The New York State Department of Financial Services last week fined a subsidiary of insurer Chubb $US1.3 million ($1.73 million) for underwriting the NRA’s Carry Guard insurance program, in violation of state insurance law.
An investigation found the program illegally provided liability cover to gun owners who may be charged with crimes involving legally owned firearms.
Lloyd’s Corporation says it will instruct its underwriters to terminate any programs of this type and not to enter new ones.