Passed by Congress in 1945, this act states that regulation and taxation of insurance by the states is in the public interest, and that congressional silence should not be construed as a barrier to state regulation.
Federal legislation (U.S. Code Title 15, Chapter 20) enacted in 1945 to permit the states to continue regulating the insurance business after the Supreme Court, in U.S. v. South-Eastern Underwriters Association, overruled the decision in Paul v. Virginia, declaring insurance to be interstate commerce and therefore within Congress's constitutional authority to regulate. Under the Act, insurance is exempt from some federal antitrust statutes to the extent that it is regulated by the states. The exemption primarily applies to gathering data in concert for the purpose of ratemaking. Otherwise, antitrust laws prohibit insurers from boycotting, acting coercively, restraining trade, or violating the Sherman or Clayton Acts.
Federal legislation enacted in 1945, in which Congress agreed to defer to state regulatory authorities in the regulation of the insurance industry. The legislation specifically provides for a limited federal antitrust exemption.
A federal law, passed in 1945, affirming that regulation of insurance by the states was in the public interest and exempted insurers from federal law and regulations if the federal laws impaired state regulation.
The McCarran-Ferguson Act is a federal law signed in 1945 that gives states the full authority to regulate the insurance business. The law places insurance companies under the authority of state anti-trust laws instead of Federal anti-trust laws.
A federal act that placed the primary responsibility for regulating health insurance companies and Health Maintenance Organizations that service private sector (commercial) plan members at the state level.
Federal law passed in 1945 stating that continued regulation of the insurance industry by the states is in the public interest and that federal antitrust laws apply to insurance only to the extent that the industry is not regulated by state law.
A federal law giving states the right to regulate insurance, subject to certain limitations. This act allows insurance companies to work together to collect loss and expense data and gives insurers limited antitrust protection.
Enacted on March 9, 1945, a law by which Congress granted authority to the states to continue to tax and regulate the business of insurance (after the insurance business had been held by the Supreme Court to be commerce in a landmark case in 1944, and therefore, subject to federal regulation whenever subject to interstate regulation). The act provided further that the antitrust laws should not apply to the extent the business of insurance is regulated by the states, except for coercion, intimidation and boycott. Also known as Public Law 15 (79th Congress, 1945. McCarran-Ferguson Regulation Act: 15 U.S.C. 1011-15)
1945 Federal legislation in which the Congress declared that the states may continue to regulate the insurance industry.
Federal law signed in 1945 in which Congress declared that states would continue to regulate the insurance business. Grants insurers a limited exemption from federal antitrust legislation.
federal legislation enacted in 1945 giving the insurance industry limited antitrust immunity by establishing that federal antitrust laws will not apply to insurance to the extent that it is regulated by state law. The law was a response to the Supreme Court's decision in United States v. South-Eastern Underwriters, which established that insurance is commerce and therefore subject to federal antitrust laws. Prior to that case, insurance had traditionally been regulated by the states, which was supported by a prior Supreme Court decision in Paul v. Virginia, which had established that insurance was not commerce. The effect of McCarran-Ferguson has been to maintain the states as the primary regulators of the insurance industry, even though it is clearly subject to federal regulation, with the federal government only stepping in where state regulation proves inadequate.
