Considering that possessing arms has been determined by the SCOTUS to be an individual right, I expect this bill to go nowhere, because as written, it would place NY residents totally at the mercy of insurance companies in order to possess a firearm. The bill makes it TOO easy to lose the lawful ability to own a firearm. To wit:
- There is no provision in the bill to guarantee that people can even GET coverage. Family history of depression? You're high risk and nobody will write you a policy. Who needs due process? So sorry for your bad luck! No guns for you!
- There is no mechanism for regulating how rates are set. For instance, it's easy to envision the people who need firearms the most- those who live in bad neighborhoods- being unable to afford coverage because simply residing in their neighborhood makes them high risk. Can't afford to live elsewhere, yet can't afford the firearms insurance premiums because of where you live? So sorry for your bad luck! No guns for you!
- There is no protection from unreasonable rate increases. Imagine this... have an ND, and you're now high risk, and your premiums go up by a factor of 5! Can't afford the rate hike? So sorry for your bad luck! No guns for you!:
- There is no protection for consumers who lose their insurance coverage because of minor problems with the insurance provider. What if your credit card is stolen, but you forget to update your auto-withdraw information with the company, and they cancel your policy? So sorry for your bad luck! No guns for you!
I could keep going, but I think my point is made.