New York Charges NRA With Violating Insurance Laws

Reuters reports:

A New York regulator on Wednesday filed civil charges against the National Rifle Association, accusing the gun rights group of acting as an unlicensed insurance producer and deceiving its members with misleading marketing practices.

New York’s Department of Financial Services accused the NRA of having worked with insurance broker Lockton Companies to offer insurance products such as the NRA-branded “Carry Guard” to the group’s members without a license.

It said the NRA misrepresented to its members that the products were being sold at the lowest possible cost, when in fact the group kept “substantial” royalties, sometimes exceeding 20% of premiums paid.

Carry Guard is also known as “murder insurance.”