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Insurance Definition: ANTITRUST LAWS

By Compuquotes Team on March 27th, 2008

ANTITRUST LAWS:

Definition:

  • Laws that prohibit companies from working as a group to set prices, restrict supplies or stop competition in the marketplace. The insurance industry is subject to state antitrust laws but has a limited exemption from federal antitrust laws. This exemption, set out in the McCarran-Ferguson Act, permits insurers to jointly develop common insurance forms and share loss data to help them price policies.

Information provided by Insurance Information Institute

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