Repeal sought for insurance antitrust exclusion
Companion bills introduced last month on Capitol Hill would repeal a 1945 act that effectively excludes the insurance industry from federal antitrust regulations.
Companion bills introduced last month on Capitol Hill would repeal a 1945 act that effectively excludes the insurance industry from federal antitrust regulations. S 618 and HR 1081 would give the Department of Justice and the Federal Trade Commission the authority to apply antitrust laws to what it deems anticompetitive behavior by insurance companies, which currently are regulated by the states. Meanwhile, the House Financial Services Committee chairman has said he’d consider an optional federal charter for life insurance companies but not property-casualty insurers. For details of the bills, go to http://thomas.loc.gov
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