May 7, 2018 / 4:35 PM / 6 months ago

BRIEF-NY DFS Fines Chubb Unit For Underwriting NRA-Branded “Carry Guard” Insurance Program

May 7 (Reuters) - New York Department Of Financial Services:

* DFS FINES CHUBB SUBSIDIARY ILLINOIS UNION INSURANCE COMPANY $1.3 MILLION FOR UNDERWRITING NRA-BRANDED “CARRY GUARD” INSURANCE PROGRAM IN VIOLATION OF NEW YORK INSURANCE LAW

* INVESTIGATION FOUND NRA CARRY GUARD INSURANCE PROGRAM UNLAWFULLY PROVIDED LIABILITY INSURANCE TO GUN OWNERS WHO MAY BE CHARGED WITH CRIME INVOLVING LEGALLY-POSSESSED FIREARMS

* CHUBB UNIT WILL NO LONGER PARTICIPATE IN “CARRY GUARD” OR ANY SIMILAR PROGRAM IN NEW YORK Source text (on.ny.gov/2jE8M7b) Further company coverage:

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