Antitrust Law Can't Apply To NM Insurance Rates: 10th Circ.

Law360, New York (April 26, 2011, 5:26 PM EDT) -- The Tenth Circuit on Tuesday dismissed antitrust claims brought by a proposed class of New Mexico plaintiffs against a number of title insurance companies claiming that the firms conspired with state officials to set unreasonably high and anti-competitive premium rates.

The court said that because state law requires New Mexico’s superintendent of insurance to set the premium rates for title insurance, allegations that the insurers conspired with and even bribed the superintendent to set unfair rates could not be dealt with using antitrust laws. Those types...
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