N.Y. Regulator Fines Chubb $1.3M For NRA Insurance Program

Insurer Chubb Ltd and a unit have agreed to pay a total of $1.3 million to New York State’s insurance regulator over their role in a National Rifle Association (NRA) insurance program, the regulator said on Monday. The settlement follows an investigation by the New York State Department of Financial Services (NYDFS), which found that the NRA’s “Carry Guard” insurance program “unlawfully provided liability insurance to gun owners for acts of intentional wrongdoing,” the regulator said in a statement. The insurance, underwritten by Chubb unit Illinois Union Insurance Company, also “improperly provided” legal services for policyholders who faced criminal charges after using their guns in self defense, the regulator said.