I read that all of S&W current guns meet these standards. I guess this part is in the interest of keeping those dangerous Saturday night specials off the street.
If I were a dealer the following part of the agreement would concern me greatly since it seems to be a defacto admission of liability for the actions of the purchaser. It also creates a deep pocket situation which encourages lawsuits.
"Part II.A.1.h, below. c.Where available, carry insurance coverage against liability for damage to property and for injury to or death of any person as a result of the sale, lease, or transfer of a firearm in amounts appropriate to its level of sales, but at a minimum no less than $1 million for each incident of damage, injury or death."
It would also open dealers up to predatory lawsuits filed on contingency fee by plantiffs attorneys, 30-50% of $1 million is a significant reward for an attorney.
Smith & Wesson wants to share the pain of lawsuits with the small dealer.
This type of insurance would be incredibly expensive if it can even be found,
No insurer wants to write a known loss in progress, which is exactly what any dealer in business for any length of time would be since he has no control of the guns final disposition (theft, resale to criminals).
