With a sustained advocacy effort over the last week, NAMIC and others in the industry have staved off an attack on the limited anti-trust exemption under the McCarran-Ferguson Act.
Reps. Paul Gosar, R-Ariz., Peter DeFazio, D-Ore., and John Conyers, D-Mich., all introduced separate amendments to a medical malpractice reform bill on Monday that would have repealed portions of the McCarran exemptions. As the amendments came to light, we immediately notified our membership and joined with others in the industry to ensure that the business of property/casualty insurance would not be impacted.
Two of the three amendments were successfully blocked and the third, introduced by Rep. Gosar, was altered to include careful language that limited his repeal to the business of health insurance. The language was designed to make clear that this was not intended to target property/casualty insurance and that it would not accidentally be applied to the industry. Mr. Gosar’s amendment passed the House on a voice vote this morning, and the overall bill passed a short time later.
With business in the Senate moving at a much slower pace than the House, it is possible that this issue may not come up again this year. NAMIC will continue to vigorously oppose any effort to repeal the very limited antitrust exemption provided for the property/casualty insurance industry under McCarran-Ferguson.
Contact: Jimi Grande
Senior Vice President, Federal and Political Affairs
Posted: Thursday, March 22, 2012 1:47:03 PM. Modified: Tuesday, July 24, 2012 12:57:14 PM.
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