New York S05974 requires firearm owners to obtain liability insurance of at least one million dollars.

New York S05974 amends the insurance law to mandate that any person owning a firearm must obtain and maintain a liability insurance policy of at least one million dollars. This insurance must cover damages resulting from negligent acts involving the firearm. Failure to maintain such insurance results in the revocation of the owner's registration, license, and any privilege to own the firearm. Exemptions apply to peace officers, police officers, and active military personnel authorized to carry firearms.

New York S05974 requires firearm owners to obtain liability insurance of at least one million dollars.

New York S05974 amends the insurance law to mandate that any person owning a firearm must obtain and maintain a liability insurance policy of at least one million dollars. This insurance must cover damages resulting from negligent acts involving the firearm. Failure to maintain such insurance results in the revocation of the owner's registration, license, and any privilege to own the firearm. Exemptions apply to peace officers, police officers, and active military personnel authorized to carry firearms.