Industry groups put a positive spin on a grim report to Congress and the White House suggesting that insurers no longer deserve a limited exemption from federal antitrust law. With momentum building to pull the rug out from under the McCarran-Ferguson Act, it might be time to start thinking about Plan B. What will insurers do if their precious shield is stripped away? How would they adapt?
The Antitrust Modernization Commission offered little solace for insurers. The group shrugged off any concerns about losing particular McCarran benefits–such as insurer data sharing–suggesting such problems should be worked out in the courts.
“Like all potentially beneficial competitor collaboration generally…such data sharing would be assessed by antitrust enforcers and the courts under a rule-of-reason analysis that would fully consider the potential pro-competitive effects of such conduct, and condemn it only if, on balance, it was anticompetitive,” the report noted.
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