There's been a lot of talk in Washington by some angry members of Congress about stripping the industry of its sacred cow–the McCarran-Ferguson Act, which gives insurers the ability to sidestep federal antitrust laws so they can share data and set more accurate rates. (At least that is the theory.) NU Washington Editor Dave Postal, however, suggests that despite all the hub-bub about how horrible the industry is behaving, any change in the law is way off–if it ever comes to pass.
In his column in the upcoming, Aug. 20 edition of NU, Dave notes that despite making some powerful enemies on both sides of the political aisle, McCarran modification, let alone repeal, is far from a sure thing.
Is it possible that a bill targeting McCarran-Ferguson–”with FTC oversight the piece de resistance”–will be reported out by the Senate Judiciary Committee this year or next, Dave asks. Of course it is, he says.
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