Pistols and revolvers sit on display in the Smith & Wesson Corp. booth during the National Rifle Association (NRA) annual meeting in Dallas, Texas, on May 5, 2018. (Photo: Bloomberg)
For more than two years, the National Rifle Association (NRA) and New York state regulators have been embroiled in a dispute over the NRA-endorsed "Carry Guard" insurance program that critics have dubbed as "murder insurance." Now, the association must appear before a regulatory hearing over allegations it violated New York law in the marketing of the product, Bloomberg reported.
The DFS investigation
An investigation by New York's Department of Financial Services (DFS) in 2018 found that the NRA "unlawfully provided liability coverage to gun owners in the event they were charged with a crime involving their firearms." The DFS investigation also found that the NRA actively advertised the product in the state despite not having a license to conduct insurance business.
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Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
