NRA settles insurance violation case for $2.5M
Source: ABC News
The National Rifle Association on Wednesday agreed to pay $2.5 million to resolve claims it violated New York insurance laws.
The consent order follows a three-year investigation by the state’s Department of Financial Services. It requires the NRA to stop doing insurance business in New York for five years.
DFS said the NRA acted as an insurance producer without a license by soliciting and marketing the sale of insurance products.
“The NRA operated as an unlicensed insurance producer and broke the New York Insurance Law by soliciting insurance products and receiving compensation,” DFS Superintendent Linda Lacewell said in a statement. “Even worse, the NRA violated the New York Insurance Law by soliciting dangerous and impermissible insurance products, including those within its Carry Guard program that purported to insure intentional acts and criminal defense costs.”
Read more: https://www.msn.com/en-us/news/us/nra-settles-insurance-violation-case-for-dollar25m/ar-BB1b8p4V?li=BBnb7Kz
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