House Bill Aims To Pull Insurers' Antitrust Immunity

Law360, New York (March 19, 2009, 12:00 AM EDT) -- Two House Democrats have introduced legislation to remove federal antitrust exemptions for the insurance industry, which the lawmakers claim allowed sinking insurance giant American International Group Inc. to become “too big to fail.”

Reps. Gene Taylor, D-Miss., and Peter DeFazio, D-Ore., introduced the bill to the U.S. House of Representatives on Wednesday as Congress continued debate how the government should respond to the AIG crisis.

"The fact that the insurance industry is exempt from federal antitrust laws is outrageous,” DeFazio said in support of the bill....
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