NRA-Branded Insurance Program Is Unlawful, New York Regulators Say
- Lockton fined $7 Million by Department of Financial Services
- Company said in February it would end NRA brokerage services
This article is for subscribers only.
A National Rifle Association-branded insurance program unlawfully provided liability coverage to gun owners in the event they were charged with a crime involving their firearms, according to New York state regulators.
Lockton Cos., which administered the insurance, and an affiliate were fined $7 million by New York’s Department of Financial Services and will no longer participate in the NRA’s “Carry Guard” program in the state of New York, the agency said in a statement Wednesday.