H. R. 1583
IN THE HOUSE OF REPRESENTATIVES
March 18, 2009
Mr. DeFazio (for himself, Mr. Taylor, Ms. Kaptur, Mr. Baird, Mr. Hare, and Mr. Nadler of New York) 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
To further competition in the insurance industry.
This Act may be cited as the
Insurance Industry Competition Act of 2009.
Antitrust enforcement authority
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—
in section 2(b) (15 U.S.C. 1012(b)), by—
as it relates to unfair methods of competition, after
Commission Act, as amended,; and
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
by striking section 3 (15 U.S.C. 1013).
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).
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.