Hold your tears: Lloyd's of London Won't Renew Insurance for NRA Directors, putting leaders at risk

[hlthe2b]

Lloyd’s of London Won’t Renew Insurance for NRA Directors
NRA leaders will soon face greater personal risk in overseeing the organization.

Lloyd’s of London will not renew the group’s directors and officers insurance when coverage ends in August, according to multiple sources. The NRA is creating a new $5 million fund to cover potential lawsuits against executives and board members while it searches for a replacement policy. The money will be drawn from current NRA investments.

NRA board member Phillip Journey told The Reload the fund was announced during the closed executive session of the gun group’s Saturday board meeting. He said board members were authorized to talk about it after the session ended, though. He believes the fund was created to alleviate concerns about liability raised by a number of board members.

“It was apparent from the comments that there are several board members that have expressed concerns,” Journey said. “This was their attempt to address the concern, knowing that the policy expires in, golly, less than 40 days.”

Lloyd’s did not respond to a request for comment. The elite business group has a reputation for insuring high-risk clients, and Journey said its decision not to renew the NRA’s policy is bad news.

“I mean, if Lloyd’s won’t insure you, who the hell will?” he said.

Link to tweet

[SWBTATTReg]

1. Good. Toxic leadership doesn't help bottom lines in anybody's books. Stay away is what

the smart money is saying. Good. The NRA has gone astray, gotten itself into a big mess, and they have only themselves to blame.

[Sogo]

2. Lloyd's of London is in the business of writing specialty insurance policies.

If they won't do it, I don't see who else they will find to write it.....

[Sanity Claws]

3. Would they resign instead?

Maybe they feel it safer to stay on and fight liability for past actions. If they leave, the other directors may just point fingers at the ones who left.
Just desserts.

[SheltieLover]

4. Good!

Smart move!

[RockRaven]

5. Now is the time for everyone with any sort of lawsuit to bring against the NRA to file it.

Have tons of lawsuits hanging over their head while they scramble for new insurance -- scare away as many potential insurers as possible.

[keithbvadu2]

6. The NRA used to be for sportsmen, hunters and gun safety.

The NRA used to be for sportsmen, hunters and gun safety.

Now it has become an industry owned shill for the sale of more guns and the enrichment of its leaders.

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NRA Cuts More Operating Costs-and Lavishes Executives With Perks

https://www.motherjones.com/politics/2018/11/nra-money-executive-perks-pay-cutting-costs/

[gibraltar72]

7. Knowing a little about insurance

I always said that was the way to bring em down. However I didn't foresee that. I thought a law mandating insurance liability coverage for guns. Or secondarily insurance companies refusing coverage if unsecured firearms were in home.