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NRA insurance

Ohiosam

*Supporting Member*
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Mahoning Co.
#1
The Lloyd’s Corporation has directed all Lloyd’s underwriters to terminate any existing insurance programs associated with the National Rifle Association (NRA).

A statement released today (May 09) announced: “The Lloyd’s Corporation has given very careful consideration as to whether syndicates at Lloyd’s should continue to insure programs offered, marketed, endorsed or otherwise made available through the NRA.

“This is now subject to an inquiry by the New York Department of Financial Services (NYDFS). Therefore, Lloyd’s Corporation has decided to direct underwriters in the market to terminate any existing programs of this type and not to enter into any new ones.”

Lloyd’s follows a number of insurers distancing themselves from the NRA following the deadly Stoneman Douglas High School shooting that occurred on February 14, 2018, in which 17 people were killed.

Both Lockton Cos and Chubb have been fined by the New York State Department of Financial Services (NYDFS) for participating in NRA’s “Carry Guard” program. Lockton took a $7 million hit for its part as the program administrator, and Chubb had to pay a $1.3 million settlement for “improperly providing” legal services for Carry Guard policyholders facing criminal charges for using their firearms in self-defense.

Lockton was back in the headlines on Tuesday (May 08) after it was revealed the NRA is suing the mega brokerage for breach of contract.

The insurance / NRA saga continues.
 

Jackalope

Dignitary Member
Staff member
Site Admin
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#2
And now we have government organizations going after private business for what they percieve to be improper. Such as providing legal insurance to people supposedly innocent until proven guilty. Lloyd's of London is a massive insurer that writes policies for all kinds of off the wall stuff like Jlos butt and Pamela Andersons legs.
 

Dannmann801

Senior Member
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Springboro
#5
i really hate to be the guy jumping up and down screaming “the end is coming”...but wtf.
In all seriousness, you are very correct to be troubled by this report.

Is the state of NY fining these companies for participating in something illegal or improper? Have laws been broken?
I'd like a little more context if anyone knows.

I hate the huge billboards like the one off of I-75 near Middletown that say "The NRA is a terrorist organization"
 

Jackalope

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Site Admin
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#6
In all seriousness, you are very correct to be troubled by this report.

Is the state of NY fining these companies for participating in something illegal or improper? Have laws been broken?
I'd like a little more context if anyone knows.

I hate the huge billboards like the one off of I-75 near Middletown that say "The NRA is a terrorist organization"
The state of NY prohibits any legal assistance insurance being sold for any crimes committed with a firearm. Since some people who had the insurance were found guilty NY claims the NRA was selling insurance for crimes comitted with a firearm. Nothing illegal about selling insurance to innocent people. But if they are found guilty then the insurance was against the law as selling legal defense insurance to people who comitted a crime with a firearm.

They also prohibit any company not licensed to sell insurance in NY from Advertising the insurance. They said that the insurance company (underwriter) was licensed but the NRA was not. Therefor their internet, radio, and magazine print ads being shown to NY residents was considered illegal.
 

giles

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#7
I stand by my comment in the 4th post.

Something is seriously wrong with this country and I believe it’s stage 4.