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New York settles with NRA over illegal insurance sales, deceiving members

NEW YORK, Nov 18 (Reuters) - The National Rifle Association will pay a $2.5 million civil fine and agreed to a five-year ban from doing insurance business in New York to resolve charges by a state regulator.

The settlement was announced on Wednesday by New York’s Department of Financial Services. It had charged the NRA in February with offering insurance to members without a license, and concealing how it routinely kept some premiums for itself.

Reporting by Jonathan Stempel in New York Editing by Chizu Nomiyama

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