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Jon Stokes @jonst0kes
, 11 tweets, 3 min read Read on Twitter
1/ I've been going back through the details of the Cuomo/NY finreg vs. NRA and "Carry Guard" insurance stuff, and I've uncovered a wrinkle that I've not seen reported. I'll talk about it here because I'm going to refer to it in an op-ed & am not reporting on it in any outlet:
2/ In this press release putting pressure on banks & insurers to drop the NRA and similar gun orgs, Cuomo cites the fact that Chubb Insurance dropped the NRA back in October and quit underwriting Carry Guard. dfs.ny.gov/about/press/pr…
3/ He basically says, "doing business with the NRA is hazardous to your health... look here at what happened to Chubb. They had to drop Carry Guard." But look here: Chubb dropped NRA/Carry Guard because Cuomo's DFS started leaning on them! insurancejournal.com/news/east/2018…
4/ In other words, the sequence of events goes: 1) Cuomo's DFS leans on Chubb to drop the NRA. 2) Chubb drops the NRA (and later gets hit with a big fine by DFS for underwriting Carry Guard in New York). 3) Cuomo cites Chubb dropping NRA as evidence NRA shouldn't be worked wit
5/ In other words, the evidence for the "reputational risk" Cuomo cites as reason banks & insurers should drop the NRA, was manufactured by Cuomo himself! So first he nails Chubb for working w/NRA, then he tells everyone else: "See what happens when you work with the NRA?"
6/ This is some kind of mobster tactic. It's crazy and goes way over the line.
7/ It's also worth stating that Lockton, which was the insurance provider that managed the program (Chubb was the underwriter), was super tight with the NRA (chairman David Lockton is a Golden Ring of Freedom member). There had to have been a ton of pressure on them to do this.
8/ Lockton got leaned on really hard by Cuomo and DFS, and you can see this in the reporting on the court docs.
9/ Remember: the investigation by DFS started many months before Parkland, so they had been getting pressure from Cuomo's regulators to drop NRA over Carry Guard, and probably knew a fine was coming. But @teamtrace gives you none of that backstory.
10/ If you just read the Trace/Vice stuff, you think that Parkland and the NRA's response to it (i.e. lash out, & go into fundraising-on-the-back-of-a-tragedy mode) caused Lockton's distress & him dropping them. No hint that he was already under investigation/pressure from NY DFS
11/ Correction to previous tweet. It wasn't in the Vice version but is in the Trace version.
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