Sentry Insurance cancels insurance flor Nashville Gun Shop

[TNRobocop]

Got this in an e-mail from Doug Woodlee, the guy in charge of TICS at TBI. I don't know all the details, only what's in the e-mail. Sounds like a firemission to me.

Yesterday, I was advised by a Nashville area gun dealer that his business insurance carrier, Sentry Insurance, told him they would not renew his policy because he sells firearms. They also sent him a letter to sign if he wanted to keep his policy. The letter asked him to guarantee that not more than 10% of his gross sales in his store to be gun related. The FFL noted in his e-mail to me the following: "Funny? (NOT REALLY) Their company logo is a sentry holding a rifle." Maybe someone should "call them out" on this.

Have any of you had similar experiences with your insurance carriers?

Douglas D. Woodlee

Manager

Tennessee Instant Check System

Tennessee Bureau of Investigation

Nashville, TN

WTF over?

Update: Several gun stores in the area have been targeted....

It is a deeper problem than just Sentry Insurance dropping gun dealers' coverage. A Murfreesboro dealer (Murfreesboro Outdoors) told me this morning that his carrier (CNA) had dropped his coverage because he was selling firearms. The one I first heard from was Bellshire Guns, here in Nashville.

Three dealers have told me they recommend checking on the NRA's Business Alliance Gunsmith/Retail/Range insurance, one has recommended Bush Insurance (Thompson Lane-Nashville), another recommended Miller & Loughry, another recommended SIAI, and the one that originally told me of the NRA insurance said he also has his gun inventory covered by Collectibles Insurance (underwritten by several companies). The NRA insurance is said to be underwritten by Lloyd's of London.

[The Rabbi]

Well, sometimes things are more complicated than at first blush.

[Guest Boomhower]

1st the credit card companies, then the insurance companies....what's next? Why not just ban the green tender in gun transactions....... Give me a break.

[Marswolf]

Well, sometimes things are more complicated than at first blush.

I guess you do not wish to elucidate?

[The Rabbi]

I guess you do not wish to elucidate?

No.

But like the guy with the full auto AR there is more than meets the eye.

[Guest Hornet Handler]

No.

But like the guy with the full auto AR there is more than meets the eye.

He's a Transformer?

[DaveTN]

I bet Bass Pro and Dicks don’t have any problem getting insured. Another hit for the small business owner.

But…. If there is more to this than meets the eye maybe someone will step up and fill us in.

[TripleDigitRide]

I know this is an old thread, but I was wondering if anyone had any further information.

[Guest canynracer]

yeah, we decided we are all going to ban insurance companies...LMAO!!!

[TripleDigitRide]

yeah, we decided we are all going to ban insurance companies...LMAO!!!

We can ban insurance and oil companies at the same time? I'm in for some real savings.

[Guest mikedwood]

We can ban insurance and oil companies at the same time? I'm in for some real savings.

And how! I'd be rich then!

[Guest db99wj]

I thought gun shops were insured by "Smith and Wesson".....

[The Rabbi]

And how! I'd be rich then!

Until you get sick, die, someone rear ends your car, or your house catches fire.

[musicman]

Rabbi, thanks for saying that.... it would sound like cheesy salemanship coming from me.

Maybe these cancellings were part of a grand evil anti-gun scheme, but there is also a possibility that these may have been simple market changes for these companies. I work with the fourth largest insurer in the country, and we do move in and out of some markets through the years, especially when it comes to commercial insurance. For instance, we are getting out of insuring most general contractors, as we have had increasing (and increasingly large) losses due to poorly trained and educated workers causing problems. We have been doing really well in the restaurant market and apartment complexes, and so we are expanding our market there and taking some rate reductions. Through this, we are drastically increasing one portion of our business, while reducing our exposure in other areas.

These changes and moves are what differentiates all insurance companies. If we all followed the same trends and calculated our rates alike, there would be no difference from Safe Auto, Allstate, or any of the independents.

I wonder if there are any other companies that are expanding their market in regard to firearms? There is money to be made there, so as these companies close that market, there will be other companies that will step up and fill the market niche in time.

So.... there my two and a half cents.

Edited May 18, 2008 by musicman