Regulators said the insurance unlawfully offered protection for certain acts of intentional wrongdoing and improperly provided coverage for acts of self defense. (Image: Shutterstock)
(Bloomberg) – A National Rifle Association-branded insurance program unlawfully provided liability coverage to gun owners in the event they were charged with a crime involving their firearms, according to New York state regulators.
Lockton Cos., which administered the insurance, and an affiliate were fined $7 million by New York's Department of Financial Services (DFS) and will no longer participate in the NRA's "Carry Guard" program in the state of New York, the agency said in a statement Wednesday.
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