McCarran-Ferguson Act


Also found in: Legal, Wikipedia.

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 ?
Moreover, even if the Supreme Court looks beyond the plain language of the statute, the imposition of disparate impact liability on insurers would conflict with the McCarran-Ferguson Act and disrupt the business of insurance.
78) The McCarran-Ferguson Act generally allows states to regulate the
It is unclear whether the Fair Housing Act applies to homeowners' insurance, as some courts have ruled that the law is preempted by the McCarran-Ferguson Act because it doesn't specifically mention insurance.
13) But because civil RICO provided a different remedy than the administrative one included in Ohio's insurance code, the court granted a motion for summary judgment on the grounds that civil RICO's use would violate the McCarran-Ferguson Act.
However, there is still much work to do, particularly on systemic risk and with the renewed push by some members of Congress to repeal the limited exemption granted to insurers by the McCarran-Ferguson Act.
After Fifth Circuit's rehearing en banc on whether McCarran-Ferguson Act authorizes state law to reverse-preempt the Convention on the Recognition and Enforcement of Foreign Arbitral Awards or its implementing legislation, Court concludes that Act does not apply to Convention
Congress itself, in the McCarran-Ferguson Act of 1945, expressly forbade any federal regulation of the business of insurance, leaving that to the states.
Whereas the McCarran-Ferguson Act was enacted in 1945 to insulate insurance companies-and "the business of insurance"-from liability under the antitrust laws due to the fact that rates in the insurance industry then were set by multiple competitors appearing before state insurance commissioners; and
The aim of Congress was clear when it enacted the McCarran-Ferguson Act (1) in 1945: "The business of insurance .
Federal lawmakers reacted by adopting the McCarran-Ferguson Act, effectively exempting the insurance industry from most antitrust laws.
Insurance companies turn to the McCarran-Ferguson Act to argue that
This letter transmits our briefing slides describing the potential effects of the federal antitrust exemption included in the McCarran-Ferguson Act (McCarran) on insurer activities.