Lloyd's of London has also announced that it will tell its syndicates to stop writing or offering all insurance made available or endorsed by the NRA. (Photo: sundrawalex / iStock)
The New York Department of Financial Services has fined an insurance broker, Lockton Affinity, $7 million in connection with sales of a National Rifle Association (NRA)-branded "Carry Guard" insurance program and similar products for gun owners, and also separately fined a subsidiary of Chubb Group Holdings $1.3 million for underwriting the same type of insurance, as part of consent orders with the companies.
Financial Services Superintendent Maria Vullo said in statement earlier this week the actions followed a DFS probe, which found that the NRA "Carry Guard" program sold by the Chubb subsidiary Illinois Union and broker Lockton Affinity provided liability insurance to gun owners and resident family members for legal costs connected with criminal defense for using a legally owned firearm, violating state law.
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