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Industry Groups Blast Insurance Antitrust Bill

Law360 (March 25, 2009, 12:00 AM EDT) -- Two major insurance industry groups are opposing a bill that would remove federal antitrust exemptions for the insurance industry, saying that those exemptions are needed to protect consumers.

Reps. Gene Taylor, D-Miss., and Peter DeFazio, D-Ore., introduced the bill to the U.S. House of Representatives last week as Congress continued to debate how the government should respond to the AIG crisis. They said that the current antitrust exemptions for insurance companies helped American International Group Inc. become “too big to fail.”

Their proposed Insurance Industry Competition...
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