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Senate Judiciary Committee Holds McCarran-Ferguson Act hearing |
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WASHINGTON, D.C. — The Senate Judiciary Committee held a hearing to discuss
“The McCarran-Ferguson Act: Implications of Repealing the Insurers’ Antitrust
Exemption.” According to Sen. Arlen Specter, R-Pa., committee chairman, this is the first hearing on
McCarran-Ferguson by the full committee since 1989. Originally, the McCarran-Ferguson Act was enacted in 1945 to
permit the states to continue regulating the insurance business. Under the Act, the business of insurance is exempt
from some federal antitrust statutes to the extent that it is regulated by the states.
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