S.84 - Insurance Competitive Pricing Act of 1993103rd Congress (1993-1994)
|Sponsor:||Sen. Metzenbaum, Howard M. [D-OH] (Introduced 01/21/1993)|
|Committees:||Senate - Judiciary|
|Latest Action:||Senate - 01/21/1993 Read twice and referred to the Committee on Judiciary. (All Actions)|
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Summary: S.84 — 103rd Congress (1993-1994)All Information (Except Text)
Introduced in Senate (01/21/1993)
Insurance Competitive Pricing Act of 1993 - 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 or conspiring 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.