McCarran-Ferguson Act

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McCarran-Ferguson Act

Legislation in the United States, passed in 1945, that exempts insurance companies from anti-trust law, except in cases of boycott, intimidation or coercion. It also states that federal law does not preempt state regulation of insurance (that is, state regulations trump federal law) unless federal legislation explicitly states otherwise. The act remains controversial.
References in periodicals archive ?
The House passed the Health Insurance Industry Fair Competition Act (HR 4626), which rolls back the anti-trust exemptions that the insurance industry has enjoyed since the passage of the McCarran Ferguson Act in 1945.
One of the byproducts of the healthcare reform debate was the introduction of a repeal of the industry's limited antitrust exemption under the McCarran Ferguson Act for health and medical malpractice insurance.
I envision the possible repeal of the McCarran Ferguson Act of 1945 that left the regulation of the business of insurance to the states.
Pursuant to the McCarran Ferguson Act, the Bankruptcy Court has no jurisdiction or authority over the assets or operations of Acceptance Insurance Company.