BIG “I” GETS WIN ON FIREARMS LIABILITY LEGISLATION
Association joined by industry partners in supporting needed reform bill
WASHINGTON, D.C., Oct. 20, 2005—The Independent Insurance Agents & Brokers of America (the Big “I”), the nation’s largest insurance association, praised the House of Representatives today for passing the “Protection of Lawful Commerce in Arms Act.”
The bill, S. 397, provides that lawsuits may not be brought against manufacturers and sellers of firearms or ammunition if the suits are based on criminal or unlawful use of their products by third parties. The legislation, which also passed the Senate with bipartisan support by a vote of 65 to 31, now goes to President George W. Bush for his signature.
The Big “I” was joined by several of its industry partners, including the American Insurance Association, the Council of Insurance Agents and Brokers, the National Association of Mutual Insurance Companies, and the Property Casualty Insurers Association of America, in pushing for this legislation. The five groups collaborated on a letter to Senate Majority Leader Bill Frist (R-Tenn.) on July 20th in strong support of the bill.
“The Big ‘I’ and its members are very pleased that manufacturers and sellers who make and sell these legal products can no longer be held responsible for the actions of individuals who break the law,” says Charles E. Symington Jr., Big “I” senior vice president for government affairs and federal relations. “It is fundamentally wrong to hold some individuals liable for the misuse of their products by other irresponsible individuals and criminals, and that is why we worked very hard, with our industry partners, to get this much-needed legislation approved by Congress.”
While the legislation limits lawsuits for third party misuse of firearms, it also provides carefully tailored protections for legitimate lawsuits. Injuries caused by improperly functioning firearms, or in cases of selling to underage buyers or intoxicated individuals, will be considered legitimate grounds for legal action.
“This bill weeds out baseless lawsuits brought against individuals who should never be held liable, while protecting consumers who have legitimate cases that deserve to be heard,” says Brendan T. Reilly, Big “I” director of federal government affairs. “This is a common-sense, middle-ground legal reform that is good for business and consumers alike, and we urge President Bush to sign it into law as soon as possible.”
Founded in 1896, the Big “I” is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life, and health—as well as employee benefit plans and retirement products. Web address: www.independentagent.com.
###