State insurance commissioner issues consumer warning about NRA liability policies

Washington state Insurance Commissioner Mike Kreidler has issued a warning to consumers about the NRA-branded Carry Guard liability insurance policies, according to a news release.

““These policies are a rip-off for consumers,” Kreidler said. “These are highly suspect policies. The primary beneficiary of these seems to be nothing other than the bank account of the NRA.”

According to the news release, a total of 811 policies have been sold for a total of $260,000 to people in the state since the product became available in April 2017. Of those 811 policies purchased, 255 customers have canceled their policies and no claims have been made, according to the news release.

The news release also claims that “the insurer of the policies has paid less than 1 cent for every dollar in premiums in 2017 and 2018.”

The policies for the Carry Guard program are underwritten through a subsidiary of Chubb Ltd. The company will stop issuing policies in October 2019, according to the news release.

“This is very much a case of buyer beware,” Kreidler said. “Consumers need to thoroughly check any type of insurance policy offered them to determine if it has real value and protection, or if it’s junk. This product branded by the NRA obviously benefits several parties financially, but the policies are highly questionable and an extremely poor value for consumers.”

State NRA officials did not respond to a request for comment Friday from The Olympian.

According to the news release, Kreidler ordered an investigation into the NRA in 2017 and required the organization to stop selling Washington residents four Carry Guard liability insurance products that were being sold online. The NRA marketed the policies without an insurance producer license, which is a violation of state law.

Kreidler’s investigation into whether the product violates state law is still ongoing.