NRA, Said To Be In Financial Trouble, Settles Dispute Over Loss Of Insurance

By on December 7, 2018

December 7, 2018

The National Rifle Association has settled with an insurance broker that had, under the terms of a consent agreement with the state of New York, ended its relationship with the group. The broker, Lockton Affinity, had been providing a variety of insurance products to NRA members, including insurance for gun-range instructors and gun dealers, and a product called “Carry Guard,” which covers attorney and liability costs for gun owners who shoot someone in self-defense. As reported by Trace, a non-profit research and reporting organization “dedicated to shining a light on America’s gun violence crisis,” regulators in New York came down hard on Lockton for not being a licensed broker and for insuring against what might be the commission of a violent crime, and that issue was settled with the consent decree. The NRA then sued Lockton for failing to perform due diligence when it launched Carry Guard, failing to protect the product against regulatory scrutiny, and for breach of contract. According to Trace, the NRA has been losing membership and is in serious financial trouble, in part because of its insurance problems. Terms of the settlement between the Lockton and the NRA were not made public.

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