Maryland bill would force gun owners to get $300K liability insurance to wear or carry
Maryland House Democrats introduced a controversial gun safety bill requiring gun owners to forfeit their ability to wear or carry without firearm liability insurance.
Introduced by Del. Terri Hill, D-Howard County, the legislation would prohibit the “wear or carry” of a gun anywhere in the state unless the individual has obtained a liability insurance policy of at least $300,000.
"A person may not wear or carry a firearm unless the person has obtained and it covered by liability insurance issued by an insurer authorized to do business in the State under the Insurance Article to cover claims for property damage, bodily injury, or death arising from an accident resulting from the person’s use or storage of a firearm or up to $300,000 for damages arising from the same incident, in addition to interest and costs,” the proposed Maryland legislation reads.
Well, undoubtedly if it is like other types of insurance the insurance will exempt homicide and and suicide. It will probably only cover accidental discharge so it will not help with the two biggest problems.
Most insurance doesn't cover an insured for deliberate acts by the insured. Off the top of my head the only caveat I can think of is in Japan where life insurance can still pay out in the event of suicide.
Life insurance in the US will also generally pay out in the case of suicide, as long as you wait at least one year after the purchase of a policy to kill yourself.
The industry standard is two years. In Brazil, where I work in, is an obligation imposed by our regulator.
Huh, news to me. But it has been a decade plus since licensing when I went over life insurance so it's entirely possible I forgot or policies changed since then. Thanks for letting me know.
That makes sense, I guess. If there's a homicide you're probably already suing the perpetrator.
It makes sense, but it's not going to address what are the biggest problems. He'll if anything it might get worse as people will know insurance will cover their accidental discharges...