Financial Services Industry
Industry: Email Alert RSS FeedHatch urges insurers to stand firm on McCarran. (Orrin Hatch, McCarran-Ferguson Act)
National Underwriter Property & Casualty-Risk & Benefits Management, March, 1989 by Brostoff, Steven
Hatch Urges Insurers To Stand Firm On McCarran WASHINGTON--The McCarran-Ferguson Act will not be repealed if the insurance industry stands together to support it, according to Sen. Orrin Hatch, R-Utah. "If you are willing to stand together, there is no way [Congress] will repeal it. And I'll make sure they don't," Sen.
Hatch said at a legislative seminar sponsored by the National Association of Independent Insurers. "There is no reason to impose 535 dictators on the business of insurance." Sen. Hatch said that McCarran-Ferguson opponents have tried to repeal the exemption every year since he has been in the Senate. These efforts have always failed, he said, noting that many liberal Democrats vote against repeal. But even if Congress does manage to...
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