The State of New York is playing dirty in an attempt to put the National Rifle Association out of business. They are going after their insurers. This ought to be prevented. I am sure that we do not want a State to decide to kill off a company for political reasons, which is what is going on here.
“Simply put, Defendants made it clear to banks and insurers that it is bad business in New York to do business with the NRA,” the lawsuit says. “As a direct result of this coercion, multiple financial institutions have succumbed to Defendants’ demands and entered into consent orders with DFS that compel them to terminate longstanding, beneficial business relationships with the NRA, both in New York and elsewhere.” …
“Defendants’ goal, from the outset, was to disrupt any and all business arrangements between the NRA and any insurance administrator, broker, or underwriter—indeed, any financial institution.”
Lockton, the NRA’s long-standing insurance provided, dropped all NRA-related services after receiving threats of extortion by DFS. The lawsuit alleges that Lockton and the NRA were in contract negotiations over a policy renewal. They were set to lock-in the deal when Lockton came back and said they would not provide the NRA with any services moving forward.
This is the assault of the ten thousand lawyers. It may be a popular move for Governor Cuomo, but it should not be allowed. NRA is going to need a ton of money for lawyering to fight the State of New York.