Here is the full article from Reuters. The proposal would, essentially, repeal the McCarran-Ferguson Act of 1945 which gave the Insurance Industry an exemption from Federal Anti-Trust Regulations. The repeal which is being proposed would impact Health Insurance and Medical Malpractice Insurance and not other insurance lines. This would open the door for the Federal Trade Commission to regulate these industries. The FTC would could block mergers they deem anti-competitive. It could impact the ability of companies to share actuarial data (unless this aspect is specifically addressed). It could also result in more litigation on the grounds of anti-competitive behavior.
Congress Cranks up Pressure on Insurance Industry; Bill would Repeal Industry’s Anti-Trust Exemption for Health Insurance and Medical Malpractice Industries
October 22, 2009 by Craig
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