Bill Aims To Beef Up FTC's Power To Police Insurers

Law360, New York (August 3, 2010, 3:29 PM EDT) -- Sens. Mark Pryor, D-Ark., and Jay Rockefeller, D-W.Va., have put forward a bill that would give the Federal Trade Commission the power to quell anti-competitive practices in the insurance industry without seeking congressional approval, as well as put nonprofit insurers under the agency's authority.

S. 3685, the Insurance Competition and Transparency Act of 2010, was introduced Monday by Rockefeller, who chairs the Senate Commerce Committee, and Pryor, along with co-sponsor Sen. Barbara Boxer, D-Calif.

According to the senators, many insurance companies, particularly in the health insurance...
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