S.430 - Insurance Competitive Pricing Act of 1991102nd Congress (1991-1992)
|Sponsor:||Sen. Metzenbaum, Howard M. [D-OH] (Introduced 02/20/1991)|
|Committees:||Senate - Judiciary|
|Latest Action:||Senate - 02/20/1991 Read twice and referred to the Committee on Judiciary. (All Actions)|
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Summary: S.430 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in Senate (02/20/1991)
Insurance Competitive Pricing Act of 1991 - Amends the McCarran-Ferguson Act to eliminate the antitrust exemption applicable to the business of insurance where the conduct of an individual engaged in such business involves: (1) price fixing; (2) allocating with a competitor a geographical area in which, or persons to whom, insurance will be offered for sale; (3) unlawfully tying the sale or purchase of one type of insurance to that of another type, or of any other service or product; or (4) monopolizing, or attempting to monopolize, any part of such business.
Retains such exemption for conduct involving the making of a contract, or engaging in a combination or conspiracy, to: (1) collect or disseminate historical loss data; (2) determine a loss development factor applicable to such data; or (3) perform actuarial services if such contract, combination, or conspiracy does not involve restraint of trade.