Ghost Guns, Big Lawsuits, and Insurance Drama What happens when New York sues firearm manufacturers, claiming their products are fueling violence? You’d expect a legal showdown between the state’s attorney general and the gun companies. But what if insurance companies are suddenly dragged into the mess? Yep, it gets complicated. And that’s exactly what’s happening in the ongoing lawsuit over ghost guns, with major players like AIG and an insurance trade group stepping into the ring. Where do insurance companies fit into this? Here’s the deal. New York filed this…
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Gun insurance strategy backed by Warren and Menino
Mayor and Senator in favor of a higher cost for coverage for owners at a higher risk. The mayor of Boston, Thomas Menino, and Senator Elizabeth Warren have stated that they are in support of the Beacon Hill legislation that would add a gun insurance liability coverage requirement to their weapons ownership. The legislation would add new coverage requirements for owners of firearms, rifles, or shotguns. Under a new provision to the legislation, which was filed by Rep. David Linsky (D-Natick), anyone owning one of these weapons will need to…
Read MoreGun insurance requirement concept pushed by Advocates
Some lawmakers consider ownership coverage as a way to curb violence involving these weapons. Lawmakers have been tossing around many ideas recently to help to reduce the instances of firearms related violence, leading some to believe that a requirement for gun insurance may be helpful in this effort. These same lawmakers are hopeful that the insurance industry will join in by offering incentives. In Massachusetts, a bill was filed on Friday, which would make it a requirement for firearms owners to purchase gun insurance in the form of liability coverage…
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