Insurance Competitive Pricing Act of 2003

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D DeFazioSponsor

13 cosponsors · 13 D

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

What it does: CRS summary · Introduced in House · Jan 29, 2003

Insurance Competitive Pricing Act of 2003 - Amends the McCarran-Ferguson Act to eliminate the antitrust exemption applicable to the business of insurance where the conduct involves: (1) price fixing; (2) allocating with a competitor a geographical area in which, or persons to whom, insurance will be offered for sale; (3) unlawfully tying the sale or purchase of one type of insurance to the sale or purchase of another type of insurance or any other service or product; or (4) monopolizing, or attempting to monopolize, any part of such business.

Retains such exemption for conduct involving the making of a contract, or engaging in a combination or conspiracy, to: (1) collect or disseminate historical loss data; (2) determine a loss development factor applicable to such data; (3) perform actuarial services if such contract, combination, or conspiracy does not involve restraint of trade; or (4) determine a trend factor (an adjustment to reflect a change in inflation or any other change in the estimated loss costs incurred by certain persons engaged in the business of insurance) during a specified transition period.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Insurance Competitive Pricing Act of 2003

Latest action (Jan 29, 2003): Referred to the House Committee on the Judiciary.

Policy area: Commerce · Origin: House · Introduced: Jan 29, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.