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HAMILTON, Bermuda—Ironshore Inc. and Cochrane & Co. have launched a coverage program for the firearms industry.
Called the Cochrane Ammunition and Rifle Manufacturing Specialist program, or ARMS, the service covers 12 classes of clients, including firearms retailers; wholesalers and distributors; ammunitions, bullet and cartridge manufacturers; indoor and outdoor ranges; clay pigeon manufacturers; and hunting and shooting clubs and associations.
Many of these companies are smaller, independent groups, who may be financially unable to handle unexpected losses.
The ARMS program covers costs associated with the limited recall of products, a federal investigation by the Bureau of Alcohol, Tobacco, Firearms and Explosives, medical expenses and damage to premises, among others.
The limits of the program are $1 million per occurrence, $1 million for personal and advertising injury, and $2 million aggregate.
For more information, contact Anitta Valdez of Cochrane & Co. at 509-462-1151, or Joseph Girardi of Ironshore at 646-826-4846.