On the tape:
The U.S. House will clear legislation next week that will revoke the insurance industry’s antitrust exemption, House Speaker Nancy Pelosi said today.
Pelosi, a California Democrat, said there is enough support to push through such a measure, which is also contained in a broad health-care overhaul that has stalled in Congress. Democratic leaders are still working to find a method of passing the comprehensive legislation, she said.
“Until we pass a bigger bill, we will be passing next week the insurance antitrust legislation,” Pelosi told reporters.
Congress approved the exemption in the McCarran-Ferguson Act in 1945 after the U.S. Supreme Court ruled that insurers could be regulated by the federal government. The law was intended to preserve the states’ roles in overseeing the industry free of federal intervention.
The exemption lets insurers share data to help set premiums without fear they will be charged with federal price-fixing violations.
What about the MLB? Just another shot at financials.
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