Home Business NewsBusiness Here’s why: Lloyd’s to stop insurance linked to NRA

Here’s why: Lloyd’s to stop insurance linked to NRA

by LLB Reporter
9th May 18 3:41 pm

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Lloyd’s of London said today that it would direct underwriters to terminate all insurance offered, marketed, endorsed or otherwise made available through the National Rifle Association of America (NRA).

The move comes after insurer Chubb was fined $1.3m over its role in an NRA insurance program after an investigation found the NRA’s “Carry Guard” insurance program unlawfully provided liability insurance “to gun owners for acts of intentional wrongdoing”.

Lloyd’s said it had “given very careful consideration” as to whether syndicates which operate under its auspices in London “should continue to insure programmes offered, marketed, endorsed or otherwise made available through the NRA”.

“Therefore Lloyd’s Corporation has decided to direct underwriters in the market to terminate any existing programs of this type and not to enter into any new ones,” a Lloyd’s spokesman said.

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