110 HR 1081 IH: Insurance Industry Competition Act of U.S. House of Representatives 2007-02-15 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 1st Session H. R. 1081 IN THE HOUSE OF REPRESENTATIVES February 15, 2007 Mr. DeFazio (for himself, Mr. Taylor, Mr. Jindal, Mr. Melancon, Mr. Alexander, and Mr. Jones of North Carolina) introduced the following bill; which was referred to the Committee on the Judiciary, and in addition to the Committees on Energy and Commerce and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To further competition in the insurance industry.

1.

Short title

This Act may be cited as the Insurance Industry Competition Act of 2007.

2.

Antitrust enforcement authority

(a)

In general

The Act of March 9, 1945 (59 Stat. 33; 15 U.S.C. 1011 et seq.) (commonly known as the McCarran-Ferguson Act) is amended— (1)in section 2(b) (15 U.S.C. 1012(b)), by— (A)inserting as it relates to unfair methods of competition, after Commission Act, as amended,; and (B)striking to the extent that such business is not regulated by State law and inserting The Federal Trade Commission Act, as it relates to areas other than unfair methods of competition, shall be applicable to the business of insurance to the extent that such business is not regulated by State law.; and (2)by striking section 3 (15 U.S.C. 1013). (b)

Federal Trade Commission Act

Section 6 of the Federal Trade Commission Act (15 U.S.C. 46) is amended by striking the third undesignated paragraph following subsection (i).

3.

Joint enforcement policy statement

The Department of Justice and the Federal Trade Commission may issue joint statements of their antitrust enforcement policies regarding joint activities in the business of insurance.