NAMIC: McCarran-Ferguson Teleconference Scheduled

NAMIC President and CEO Chuck Chamness will host a teleconference on the latest developments in the fight to preserve the antitrust exemption to insurers via the McCarran-Ferguson Act on May 21 at 10 a.m.

Chamness will be joined by several key NAMIC officials and experts on McCarran-Ferguson, who will outline the successes as well as the continuing challenges in the efforts by NAMIC members and staff to beat back repeal efforts. NAMIC will also be unveiling an online discussion board providing members with a round-the-clock opportunity to submit questions and comments to an expert on this vital issue.

“While there are many positive developments to date, we’re not out of the woods yet,” said Carl Parks, NAMIC's senior vice president for government affairs. “Those who strive to 'bring down the insurance industry' may be somewhat less vocal about their intentions, but they’ve not gone away. We must continue to be vigilant to protect our industry.

“We’re at a critical juncture and are dealing with a confluence of events. Many members of Congress, especially those elected recently, have little understanding of the intricacies of the business of insurance. Unfortunately, our industry is not one that generates popularity among politicians. We have to make sure our message continues to get out.

“Despite the successes we’ve had, threats to McCarran-Ferguson still linger. There’s still the danger that McCarran could be repealed, or, at the least, that we could lose some of the regulatory provisions that allow for a competitive insurance environment. Even though we’ve won many battles, we haven’t yet won the war.”

The teleconference includes time for questions and is scheduled to conclude at 10:30 a.m. The teleconference can be joined by calling 800-860-2442 and the pass code is NAMIC/Chamness.

Direct questions to NAMIC's Senior Director of Federal Affairs Marliss Browder.

Posted: Tuesday, May 15, 2007 12:00:00 AM. Modified: Tuesday, May 15, 2007 12:35:36 PM.

(317) 875-5250 - Indianapolis | (202) 628-1558 - Washington, D.C.

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We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.