Live Insurance News

Washington gun insurance company fined $100,000 illegal policy sales

October 25, 2019October 24, 2019 Marc

The state insurance commissioner fined the insurer and barred it from policy sales in the state. Washington state insurance commissioner Mike Kreidler’s office has fined a gun insurance company more than $100,000 for selling illegal policies. The insurer has also been stripped of its license to sell any coverage in the state. The insurer had been selling policies to gun owners in order to cover them for them for criminal activity. The United States Concealed Carry Association, Inc. is a gun insurance company. It was selling policies that would provide…

NRA under investigation in New York for illegal gun insurance kickbacks

August 14, 2019August 12, 2019 Logan B.

The state regulator is looking into the National Rifle Association’s role in selling banned coverage products. The New York Department of Financial Services is currently investigating the NRA for allegedly taking illegal gun insurance kickbacks in the state. The investigation is examining the National Rifle Association’s role in the sale of banned coverage products to firearm owners. The NRA allegedly took in at least $14 million in illegal kickbacks in the state. The state regulator’s investigation is one component of a broader effort that launched in 2018. It is the…

National Rifle Association sues state of New York over insurance crackdown

May 15, 2018May 17, 2018 Nordstrom

Insurance crackdown - Gun Insurance - Guns

The pro-gun group accuses New York of conducting an unconstitutional “political blacklisting campaign.” The National Rifle Association (NRA) has filed a lawsuit over the New York insurance crackdown reported by Live Insurance News last week. The NRA sued state Governor Andrew Cuomo as well as New York’s financial Regulators. It accuses them of an unconstitutional “political blacklisting campaign” to halt banks and insurance companies from partnering with the group. The NRA filed its lawsuit against the state in the U.S. District Court for the Northern District of New York. The…

Gun insurance will be required in California if bill passes

February 7, 2013February 6, 2013 Julie Campbell

Owners could soon have to purchase liability coverage to keep their weapons in the state. The Democratic lawmakers in California have been considering legislation that would require firearm owners in the state to have to buy liability gun insurance in order to cover any injuries or damages that are could result from the use of their weapons. Many other states have been introducing similar bills following the trend of school shootings. Among the other states that are looking into required gun insurance are New York, Massachusetts, Connecticut, Pennsylvania, and Maryland.…

Homeowners insurance and guns were a top topic for State Farm CEO

January 17, 2013January 17, 2013 Julie Campbell

The ownership of these weapons and their impact on coverage was addressed by Mr. Rust. The topic of gun violence and weapon ownership has become a massive nationwide topic of debate, recently, but the CEO of one of the largest auto and homeowners insurance companies in the United States has now announced that he feels that the subject of safety in the home should enter into these discussions. Among all of the controversy that has been aimed at guns of late, home safety has been relatively untouched. CEO and chairman…