Category «Dodd-Frank 954»

Myth #2: Policy Forms Are “Standard” And Cannot Be Negotiated

Let’s start with a little background.  Since the McCarran-Ferguson Act  was passed by Congress in 1945, the insurance industry largely has been exempt from federal regulation.  That includes (with some limited exceptions) federal antitrust law.  So things that most companies cannot do (for example, all major banks agreeing to offer the same paltry interest rates …