For the first section of this article, click here for Part 1.

A further consideration is The National Rifle Association. The NRA has an insurance programme called 'NRA Carry Guard', which includes coverage for legal costs following self-defence shooting. The program has been controversial in the United States, with some critics calling it 'murder insurance'.

In May 2018, New York’s Financial Supervisor ruled that 'NRA Carry Guard' unlawfully provided liability insurance to gun owners for 'acts of intentional wrongdoing'. As a result, Chubb and Lockton were fined USD 1.3mn and USD 7.0mn respectively. 'NRA Carry Guard' was terminated in the state of New York. Later that year, in December, Lloyd’s of London reported it had decided to no longer allow syndicates to write insurance for the NRA. Nine of Lloyd’s managing agents agreed to pay USD 5mn in a settlement following the New York Financial Supervisor’s investigation.

In January 2019, Washington state also banned 'NRA Carry Guard' insurance policies. Insurance regulators in other states, such as California and New Jersey, are also investigating if 'NRA Carry Guard' is breaking the state laws.

Gun violence is posing an ever-increased risk for injuries and death, and significant financial costs. The American Medical Association has called it a 'public health crisis'. With all this in mind, one can only hope, that together, insurers, regulators, and politicians, can collaborate to change the culture and make the society a safer place for everyone.

For more details behind any of the information or statistics in this article, please contact Axco at axco@axcoinfo.com.