Mccarranferguson Act Public Law


Definition of "Mccarran-ferguson act (public law 15)"

1945 federal legislation in which the Congress declared that the states may continue to regulate the insurance industry. Nevertheless, in recent years Congress has expanded the federal government's insurance activities into flood insurance, federal crop insurance, and riot and civil commotion insurance.

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South-eastern Underwriters Association (seua) Case

Important 1944 U.S. Supreme Court ruling that the insurance business constituted interstate commerce and was thus subject to the SHERMAN antitrust act ...

State Supervision And Regulation

Primary responsibility for overseeing the insurance industry that has rested with individual states since 1945, after Congress passed the MCCARRAN-FER ...

Federal Trade Commission (ftc)

Government agency, under the McCarran-Ferguson act (public law 15), that has no authority over insurance matters to the extent the states regulate ins ...

Sherman Antitrust Act

1890 law prohibiting monopolies and restraint of trade in interstate commerce. The Sherman Act was strengthened in 1914 with amendments known as the C ...

Block Policy

Coverage on an all risks basis for goods in transit, bailment, and while on the premises of others. ...

Taxation, Participating Dividends

Dividends of a participating life insurance policy deemed by the Internal Revenue Service to be a return of a portion of premiums and thus not subject ...

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