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Federal Information

Why do insurance companies have so much power?  Some will argue that the root of the problem came from The-McCarren-Ferguson-Act.  Some will say that, especially in light of the current AIG problem, that the industry is due for reform.  This is not news, in fact, in 1963 then Attorney General of the U.S., Robert Kennedy pursued the insurance industry and secured The 1963 Consent-Decree.  I would invite you to take a moment and read through this document.  At the very least to review the section VI "BACKGROUND OF THE CONSPIRACY."  Paragraph 16 starts "On March 12, 1942 the CCC passed a resolution which provided for the organization of Casualty Insurance Claim Managers’ Councils..."  Just think about the implication of that sentence within the idea of a conspiracy.

Repeal- McCarren- Ferguson Because the federal McCarran-Ferguson Act of 1945 exempted the insurance industry from anti-trust regulation, the major firms that handle reinsurance can and do collude on risk assessment and rate-setting in ways that would be illegal in any other industry.  Sign the Repeal Insurance Industry Antitrust Exemption Petition to U. S. Congress, created by LutzDemocrats and written by Alvin W Wolfe (awolfe1@tampabay.rr.com).