It respected, because it formerly had, the requirement to accommodate federal antitrust regulations and state legislation of insurance coverage. See H. Rep. No. 143, 79th Cong., first Sess., 3 (1945). But inaddition it respected that your decision in South-Eastern Underwriters Association had raised concerns regarding the validity that is general of laws and regulations regulating the company of insurance coverage. Some insurance coverage companies had been reluctant to conform to state regulatory authority, fearing obligation because of their actions. See id., at 2. Congress thu enacted broad legislation “so the a few States may know that the Congress wants to protect the continued legislation… Of this company of insurance coverage because of the a few States. ” Ibid.
The McCarran-Ferguson Act, as adopted, correctly commits the legislation associated with insurance coverage industry presumptively to the States. The introduction to your Act provides that “silence from the the main Congress shall never be construed to impose any barrier into the legislation or taxation of the business of insurance by the a few States. ” 15 U.S.C. Continue reading “Congress later proposed and adopted a much broader bill.”