Congress Eyes End To Insurers' Exemption

Law360, New York (February 16, 2007, 12:00 AM EST) -- As a wave of lawsuits over hurricane damages continues to hit insurance companies, Congress has introduced a bill that would rein in the industry by bringing it under the control of antitrust laws, to which it has long been immune.

The bipartisan Insurance Industry Competition Act of 2007, introduced in both the Senate and House of Representative on Thursday, would give the Department of Justice and Federal Trade Commission the authority to impose antitrust and anti-competitive laws on the industry.

In doing so, it would peal...
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