NRA has been maintaining the actions taken by New York State against it are nothing more than a political witch-hunt.
No doubt there are many local politicians who are looking for an excuse to go after the Corporation. Problem for them (NRA) is that NRA gave them reasons to start an investigation:
“The National Rifle Association (NRA) has agreed to halt insurance business in New York for five years and will pay a $2.5 million fine over charges related to that work … The agreement resolved charges related to the NRA’s relationship with insurance broker Lockton Cos, which sold over 28,000 NRA-endorsed policies. Among the plans offered was the “Carry Guard” program … the NRA allegedly received over $1.8 million in associated royalties and fees and ultimately kept between 13.67 percent and 21.92 percent of premiums paid. “The NRA operated as an unlicensed insurance producer and broke the New York Insurance Law by soliciting insurance products and receiving compensation,” said Superintendent of Financial Services Linda Lacewell …”
This is just dumb.
It is clear that nobody at NRA did any sort of due diligence before offering Carry Guard in the state. I’m not in the business but even I know that the insurance industry is heavily regulated, especially in New York. There is no excuse for this. They have wasted millions of member’s dollars on fines, attorney fees and stupid lawsuits over this nonsense.