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antitrust legislation |
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[ILLUSTRATION OMITTED] 4 MCCARRAN-FERGUSON ACT Insurance is one of the industries most carefully regulated by the states, but federal antitrust legislation threatened to alter those regulatory powers and the ability of the industry to gather and pool the historic loss data necessary to successfully underwrite risks. IN THE BELTWAY WITH THE MCCARRAN-FERGUSON ACT, Signed in i945, Congress granted states a limited exemption from federal antitrust legislation, declaring that states would continue to regulate the insurance business. For instance, historians and academics once thought that the United States effectively forced antitrust legislation on Japan after its World War II defeat, but Freyer offers evidence that Japanese policymakers were actively involved in the development of the antitrust regime. |
antitrust legislation |
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