Text: H.R.1081 — 110th Congress (2007-2008)All Information (Except Text)

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Introduced in House (02/15/2007)


110th CONGRESS
1st Session
H. R. 1081


To further competition in the insurance industry.


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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

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

SEC. 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).

SEC. 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.