Business Insurance reported that the U.S. House of Representatives, by a vote of 416-7, passed legislation that would remove a key antitrust exemption for health insurers, something property/casualty insurers have expressed concern about even though they are exempted from the legislation.
The bill would repeal the antitrust exemption featured in the McCarran-Ferguson Act of 1945 for the health insurance sector. But the legislation preserves the antitrust exemption for auto and property insurance, including workers compensation.
“We’re about as protected from antitrust repeal as we could get on the House side in the property/casualty,” Stef Zielezienski, senior vice president and general counsel for the American Insurance Association in Washington, told Business Insurance.
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