SAVANNAH, GA.–The effort to repeal insurers' anti-trust exemption under the McCarran-Ferguson Act in this congressional session remains “an answer in search of a problem,” according to a former insurance regulator.
Larry Mirel, former Washington, D.C. insurance commissioner, told a forum at the spring meeting here of the National Conference of Insurance Legislators that the repeal effort is driven by members of Congress whose states suffered devastating losses during Hurricane Katrina.
“People like to beat up on insurance companies,” he said. “Recently, critics of the insurance industry have pointed to the anti-trust exemption in the McCarran-Ferguson Act as one reason insurance companies, they claim, don't play fair.”
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