Insurance Competition Improvement Act of 1989

Summary

Insurance Competition Improvement Act of 1989 - Amends the McCarran-Ferguson Act to limit the Federal antitrust exemption of the business of insurance to the following activities of the insurance industry, subject to specified conditions: (1) collection and dissemination of historical data on paid claims or reserves for reported claims; (2) preparation and filing of policy forms and endorsements; (3) conducting research and on-site inspections to prepare classifications of public fire defenses; (4) collection and dissemination of information regarding fraudulent claims and practices; and (5) participation in joint underwriting, pools, and residual market mechanisms that are approved or that do not unreasonably restrain trade. Authorizes States to require workers' compensation and employers' liability insurers to adhere to a uniform classification system and uniform rating plan, but prohibits such insurers from agreeing among themselves to use any rate.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 6 April 1989

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.