NY subpoenas four insurers over possible Iran violations

|By:, SA News Editor

New York's Department of Financial Services has reportedly sent subpoenas to Chubb Corp (CB), CNA Financial (CNA), Liberty Mutual and Navigators Group (NAVG) as part of an investigation into the possible violations of sanctions against Iran.

The NYDFS has requested information about marine-cargo policies that the insurers issued to Glencore Xstrata in connection with its Iranian metals trade.

Last year, the commodities giant denied that it had done anything wrong when it carried out metal swaps with Iran.