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 ?
The McCarran-Ferguson Act emerged out of a long-running dispute over government regulation of the fire insurance market.
Whereas the McCarran-Ferguson Act provides special exemptions for certain insurance companies, which are not justifiably entitled to such special exemptions; and
34) Portsmouth responded that any arbitration agreement was unenforceable because, under the McCarran-Ferguson Act, Georgia Code [section] 9-9-2(c)(3) reverse-preempts any federal legislation which incidentally regulates the business of insurance, including the Convention, its implementing legislation, and the Federal Arbitration Act.
The court held that the McCarran-Ferguson Act prevented the Federal Arbitration Act from preempting that state law.
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.
The question thus arose: was the Georgia law making insurance arbitration clauses unenforceable a state law regulating insurance and therefore protected from federal preemption under the McCarran-Ferguson Act, 15 U.
This common sense conclusion, said Ward, is next verified by determining whether the state law regulates the "business of insurance" within the meaning of the McCarran-Ferguson Act, 15 U.
Moreno rejected the HMOs' argument that the RICO claims are barred by the McCarran-Ferguson Act, which reserves regulation of the business of insurance to the states.
72) The court noted that under the McCarran-Ferguson Act (Act), if the state enacted a tax on gross premiums (similar to that imposed by Charleston), the tax would be immune from Commerce Clause scrutiny.
Louis Cotton Compress and Connecticut General Life Insurance were decided before the enactment of the McCarran-Ferguson Act in 1945.
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.
To no one's surprise, in 1945 Congress passed a law, now popularly known as the McCarran-Ferguson Act, that exempted the insurance industry from federal scrutiny.