Firearms Insurance Agent Blog

The Firearms Insurance Specialists

The Risks of Being a Business in the Firearms Industry

6 Sep 2014 | Under Uncategorized | Posted by | 0 Comments |

June 12th, 2014

Doing business in the firearms industry brings with it some risks, as the government has been paying extra special attention to gun retailers, banks and such in recent times.

Lately, some companies have seen their assets frozen, lines of credit cut, and prohibition of online sales, thanks to the Feds being in cahoots with banks.

The Federal Deposit Insurance Corp. (FDIC) listed gun retailers as “high risk,” putting them in a league with porn and drug paraphernalia shops. Meanwhile, the Justice Department’s “Operation Choke Point,” dealing with banks and credit card fraud, has caused some banks to severe relationships with online firearms’ sellers.

Because of governmental intervention, banks are being ultra-conservative, making things difficult for hard-working business owners.

It seems like the U.S. government is finding sneaky ways to keep companies from manufacturing guns and/or everyday citizens from buying them. And, as expected, banks are feeding the public the line that they would never discriminate against a certain industry. Yeah, right.

The financial industry has to deal with increased regulations, so they’re mindful of who they do business with, trying to reduce both litigation and reputation risk.

In times like these, if you’re in the firearms industry it’s a good idea to have insurance. Associated Services in Insurance (ASI) is an independent insurance specialist representing several insurance carriers for those in the firearms and ammunition industries. Whether you want to insure a personal gun collection, or you own a gun shop/range, or you manufacture guns and ammo, consider calling ASI at 877-776-4015 to find out how to best protect your assets.

Source Used: http://www.washingtontimes.com/news/2014/may/18/targeted-gun-sellers-say-high-risk-label-from-feds/?page=all