UK insurance company terminates programs available through NRA
Lloyd’s of London is terminating all insurance made available through the National Rifle Association (NRA) of America, Reuters reported Wednesday.
The NRA’s Carry Guard insurance program was found to have unlawfully provided insurance “to gun owners for acts of intentional wrongdoing” earlier this week in New York.
Insurance Journal reported that the New York Department of Financial Services slapped insurance company Chubb and its subsidiarily Illinois Union Insurance Company with a $1.3 million fine on Monday. That resulted in Chubb's withdrawal from underwriting NRA-branded insurance.
Lloyd’s announced Wednesday that it would also cut ties with the pro-gun group.
“The Lloyd’s Corporation has given very careful consideration as to whether syndicates at Lloyd’s should continue to insure programs offered, marketed, endorsed or otherwise made available through the National Rifle Association of America,” a Lloyd’s spokesman said.
http://thehill.com/homenews/news/386912-uk-insurance-company-terminates-programs-available-through-nra
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