-- In light of President Obama's recent proposed changes in gun control legislation, recent statistics from the Federal Bureau of Investigation indicate that firearm sales have increased 49% within a 2 year period. This upsurge in sales has led to an increased demand affecting every aspect of the firearms and ammunition industry, including gun manufacturers, firearm dealers, gun shops and those offering self-defense and firearms licensing classes. Along with this swell in demand comes an escalation in the risk of liability exposure, prompting those within the gun industry to focus on their business insurance coverage.
In an effort to help ensure businesses influenced by these changes are adequately protected, a national insurance agency based in Columbia, South Carolina recently announced a campaign to educate the industry on the importance of product liability insurance coverage that is specific to the gun and firearm industry and the risks faced in that industry.
Paul L. Owens, director of the Products Liability Insurance division of Sadler & Company Inc, explained, "Though businesses involved in the firearms industry are seeing an exponential growth in sales, many of them are expanding their facilities to meet the increased demand without updating their insurance policies to cover their increased risk of exposure. They may be unaware of the need to do so, or they may simply be unable to find affordable product liability coverage. Small to medium-sized firearms businesses are often met with difficulty when searching for appropriate policies. Some insurance carriers are only willing to offer premiums in excess of $10,000 and are reluctant to insure those with small-scale needs. Our firearms program is perfect for those smaller businesses, because we offer coverage ranging from $2,500 and up."
Owens continued, "A number of carriers focus primarily on one branch of the industry; however, very few insurance providers possess the expertise to provide coverage for the entire industry. We offer full coverage for manufacturers of firearms and ammunition, retailers, wholesalers, gunsmith operations, firing ranges, importers and exporters, hunting and shooting clubs and all other fields included. Firearms businesses are also faced with difficulty when seeking property insurance due to the high rate of theft, fire, pollution and injury associated with the industry as a whole. Our firearms program carries an A rating and provides special comprehensive property coverage. It is vital that these businesses have access to proper coverage for all potential risks."
In regards to other policy options, Owens stated that the company also offers extensive product recall coverage. The increase in demand for firearms and ammunition extends the possibility of such products being recalled for anticipated malfunctions leading to bodily harm or property damage. The 2-part product recall coverage offered by Sadler Products Liability Insurance covers all aspects involved in the recall process.
For more information, or to apply for a quote comparison, visit http://www.products-liability-insurance.com/firearm-and-gun-products/ or call Paul Owens toll free at 1-800-622-7370.
About Sadler Products Liability Insurance:
Licensed in all 50 states, Sadler and Company, Inc. is an independent insurance agency specializing in providing product liability insurance to start-ups and small to medium-sized businesses that manufacture, import and distribute firearms, ammunition or operate pistol or rifle shooting ranges.
They aggressively work to negotiate for the most competitive and comprehensive product's liability insurance terms from leading carriers. Customized policies are available for businesses such as firearm manufacturers, gun dealers, gunsmith retailers, wholesalers and distributors, rifle and pistol shooting ranges and trap/skeet/sporting clay fields, and more
Contact Info:
Name: Paul Owens
Email: Send Email
Organization: SADLER Products Liability Insurance
Phone: 803-254-6311
Website: http://www.products-liability-insurance.com/
Release ID: 19097
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