Independent automotive repairers nationwide met recently with their U.S. representatives and senators to discuss a full repeal of the McCarran-Ferguson Act. The meetings were held as part of the Automotive Service Association's "Taking the Hill" Fly-In and AMI Leadership Conference in Washington, D.C., May 11-12.
Since 1945, insurance companies have had a "limited" exemption from federal antitrust laws that apply to most other industries assured to them through an act of Congress. The McCarran-Ferguson Act provides that federal antitrust law applies to the "business of insurance" only to the extent that such business is not regulated by state law. The anti-competitive consequences of McCarran-Ferguson impact both consumers and small businesses that have to deal with insurers.
The Senate is considering Senate Bill 3217, the American Financial Stability Act of 2010, which overhauls the nation's financial regulations. U.S. Sen. Patrick Leahy, D-Vt., Senate Judiciary Committee chairman, is considering offering an amendment on the bill to repeal the McCarran-Ferguson Act for health insurers only. Leahy has been the leading Senate advocate for a repeal of McCarran. The U.S. House of Representatives passed a repeal of McCarran earlier for health insurers only. ASA supports a full repeal of the McCarran-Ferguson Act.
For additional information about ASA, go to www.asashop.org, or visit ASA's legislative website at www.takingthehill.com.
