McCarran-Ferguson Act

(redirected from McCarran-Ferguson Act of 1945)
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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 bill also would set up a national guaranty corporation to make good on claims of failed insurers and repeal the McCarran-Ferguson Act of 1945, which provides an antitrust exemption for the business of insurance.
Senate appropriators reiterated their position that HUD should not pursue regulatory authority over the property insurance industry through the Fair Housing Act because the McCarran-Ferguson Act of 1945 explicitly forbids this except where Federal law specifically relates to the business of insurance.
In Washington, for example, insurance regulation ostensibly was handed over to the states via the McCarran-Ferguson Act of 1945.