{"id":115010,"date":"2020-11-18T23:43:30","date_gmt":"2020-11-18T20:43:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nra-agrees-to-five-year-ban-of-insurance-sales-to-settle-ny-charges\/"},"modified":"2020-11-18T23:43:30","modified_gmt":"2020-11-18T20:43:30","slug":"nra-agrees-to-five-year-ban-of-insurance-sales-to-settle-ny-charges","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nra-agrees-to-five-year-ban-of-insurance-sales-to-settle-ny-charges\/","title":{"rendered":"#NRA agrees to five-year ban of insurance sales to settle NY charges"},"content":{"rendered":"

“#NRA agrees to five-year ban of insurance sales to settle NY charges<\/strong>”
\n<\/p>\n

\n The National Rifle Association agreed to a five-year suspension of its insurance business in New York state and will pay a $2.5 million civil fine to settle charges it offered insurance to members without a license and concealed how it routinely kept some premiums for itself.<\/p>\n

New York\u2019s Department of Financial Services announced the settlement Wednesday, a little over three months after state Attorney General<\/a> Letitia James sued to dissolve the NRA, the leading US gun rights group, accusing it of widespread corruption.<\/p>\n

The settlement resolved charges over the NRA\u2019s two-decade relationship with insurance broker Lockton Cos, including the sale of 28,015 policies to New Yorkers and the NRA\u2019s receipt of more than $1.8 million in associated royalties and fees.<\/p>\n

Linda Lacewell, the state insurance superintendent, said Lockton\u2019s NRA-branded \u201cCarry Guard\u201d program illegally offered policyholders coverage for criminal defense costs and the \u201cintentional\u201d use of firearms in shooting incidents.<\/p>\n

She also accused the NRA of misleading gun collectors, dealers, instructors, clubs and shows by promising coverage at the \u201clowest possible cost,\u201d when the group typically kept between 13.7 percent and 21.9 percent of premiums paid.<\/p>\n

The NRA has said it did not underwrite its insurance programs, and that like \u201ccountless\u201d affinity groups it relied on industry experts to market products to members.. It did not admit wrongdoing in agreeing to settle.<\/p>\n

William Brewer, a lawyer for the NRA, said in a statement: \u201cThe DFS inquiry, which began with a roar, ends with a whimper.\u201d He said the settlement has no effect on other litigation pending between New York state and the NRA.<\/p>\n

The NRA has long battled with New York state officials, including in a May 2018 lawsuit where it accused Gov. Cuomo of attempted \u201cblacklisting\u201d for pressuring banks and insurers to send business elsewhere.<\/p>\n

\u201cIt would be highly unusual for a state to allow an insurance company to reimburse for an illegal activity,\u201d Cuomo told CNN in August 2018. \u201cThey call it \u2018murder insurance.’\u201d<\/p>\n

The financial services department fined Lockton $7 million in May 2018 over its involvement with Carry Guard.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#NRA agrees to five-year ban of insurance sales to settle NY charges” The National Rifle Association agreed to a five-year suspension of its insurance business in New York state and will pay a $2.5 million civil fine to settle charges it offered insurance to members without a license and concealed how it routinely kept some…<\/p>\n","protected":false},"author":1,"featured_media":115011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/11\/nra-settles-nyag-charges-e1605731903850.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[80418,72171,72172,80546],"class_list":["post-115010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-18-20","tag-attorney-general","tag-letitia-james","tag-national-rifle-association"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/115010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=115010"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/115010\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/115011"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=115010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=115010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=115010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}