NRA to pay $2.5 million after NY probe into ’dangerous’ insurance
State regulators in New York found that the National Rifle Association violated the law for most of the last 2 decades, and asked it to pay a $2.5 million penalty, and also banned it from selling insurance products in New York. The NRA and the state Department of Financial Services entered into an agreement last week to end the state’s three-year investigation into the NRA’s insurance offerings.
TL;DR The NRA lacks a license to be an insurance agency and must pay a fine (as well as cease selling “insurance” for 5 years). That’s it. That’s the bombshell.
As far as I know they only offered insurance through 3rd parties. I guess they are arguing that by offering it they are actually insuring people? Plenty of companies offer insurance like travel insurance, rental insurance etc through 3rd party insurance.
That make auto insurance Murder insurance for distracted drivers or malpractice insurance Murder insurance for Doctors ..
Anyone who is a second amendment supporter and knows anything about guns knows how much of a joke the NRA is.