New York wants $14 million fine from NRA

Reuters reports:

“New York’s financial regulator on Wednesday filed civil charges accusing the National Rifle Association of offering insurance to its members without a license and concealing how it routinely kept some of their premiums for itself. The state Department of Financial Services plans to seek civil fines and other remedies from the gun rights group at an April 6 hearing … Wednesday’s charges focus mainly on the group’s alleged ties since 2000 to insurance broker Lockton Cos, including the sale of 28,005 policies to New Yorkers and the NRA’s receipt of more than $1.8 million in associated royalties and fees. Lockton’s policies included the NRA-branded “Carry Guard,” which the regulator said offered policyholders unlawful liability coverage, including for criminal defense costs and “intentional” conduct in shooting incidents …”

It is my understanding DFS wants to fine NRA $500 per incident, so $500 x 28,005 = $14,002,500.

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