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…
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National Rifle Association sues state of New York over insurance crackdown
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…
Read MoreNew York regulators call NRA branded insurance program unlawful
The Department of Financial Services fined Lockton Cos. $7 million for its liability coverage sales. New York state regulators have deemed an NRA branded insurance program to be unlawful. Lockton Cos. said back in February that it would shut down its National Rifle Association brokerage services. The company continued to sell the branded insurance policies meant for firearm owners and users. The NRA branded insurance program was designed to cover gun owners. It is a form of liability coverage in case the firearm owners were ever charged with a crime…
Read MoreGun owners insurance policies thin out following Florida shootings
MetLife and Chubb have severed their ties with the National Rifle Association. The Florida shootings may make it more challenging to purchase gun owners insurance. Both Metlife and Chubb have made decisions to sever their relationships with the National Rifle Association. Chubb announced it would no longer underwrite National Rifle Association branded insurance policies. The company stated that its gun owners insurance underwriting would cease under the NRA’s brand. That coverage is designed to assist gun owners in paying their legal costs should their firearms be used in self defense.…
Read MoreNRA gun insurance launches for owners shooting in self defense
The new policies are designed to cover legal fees for acquitted cases and clean-up costs as well. The National Rifle Association has announced a new NRA gun insurance policy to cover Americans who want coverage in case they shoot in self defense. The policies will cover the clean-up of the scene. That said, legal fee reimbursement is issued only if the case finishes with an acquittal for a ruling. This NRA gun insurance policy is only the latest in the association’s efforts to ensure the rights of people who want…
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