Requires owners of firearms to obtain liability insurance

This bill requires all firearm owners in the state to obtain and maintain liability insurance covering at least $1 million in damages resulting from negligent firearm use. It directly affects every individual who owns a firearm, with exceptions for active-duty law enforcement officers, police, and military personnel. Owners must secure this insurance before purchasing a firearm, and existing owners have 30 days after the law takes effect to comply. Failure to maintain coverage results in immediate revocation of firearm registration, licenses, and ownership privileges.