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        <title><![CDATA[NRA agrees to five-year ban of insurance sales to settle NY charges]]></title>
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            <media:title type="html">NRA agrees to five-year ban of insurance sales to settle NY charges</media:title>
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						<p>The National Rifle Association agreed to a five-year suspension of its insurance business in New York state and will pay a $2.5 million civil fine to settle charges it offered insurance to members without a license and concealed how it routinely kept some premiums for itself.</p>
<p>New York&#8217;s Department of Financial Services announced the settlement Wednesday, a little over three months after state Attorney General Letitia James <strong>sued to dissolve the NRA</strong>, the leading US gun rights group, accusing it of widespread corruption.</p>
<p>The settlement resolved charges over the NRA&#8217;s two-decade relationship with insurance broker Lockton Cos, including the sale of 28,015 policies to New Yorkers and the NRA&#8217;s receipt of more than $1.8 million in associated royalties and fees.</p>
<p>Linda Lacewell, the state insurance superintendent, said Lockton&#8217;s NRA-branded &#8220;Carry Guard&#8221; program illegally offered policyholders coverage for criminal defense costs and the &#8220;intentional&#8221; use of firearms in shooting incidents.</p>
<p>She also accused the NRA of misleading gun collectors, dealers, instructors, clubs and shows by promising coverage at the &#8220;lowest possible cost,&#8221; when the group typically kept between 13.7 percent and 21.9 percent of premiums paid.</p>
<p>The NRA has said it did not underwrite its insurance programs, and that like &#8220;countless&#8221; affinity groups it relied on industry experts to market products to members.. It did not admit wrongdoing in agreeing to settle.</p>
<p>William Brewer, a lawyer for the NRA, said in a statement: &#8220;The DFS inquiry, which began with a roar, ends with a whimper.&#8221; He said the settlement has no effect on other litigation pending between New York state and the NRA.</p>
<p>The NRA <strong>has long battled with New York state officials</strong>, including in a May 2018 lawsuit where it accused Gov. Cuomo of attempted &#8220;blacklisting&#8221; for pressuring banks and insurers to send business elsewhere.</p>
<p>&#8220;It would be highly unusual for a state to allow an insurance company to reimburse for an illegal activity,&#8221; Cuomo told CNN in August 2018. &#8220;They call it &#8216;murder insurance.'&#8221;</p>
<p>The financial services department fined Lockton $7 million in May 2018 over its involvement with Carry Guard.</p>
			
					
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