Legislation proposed in the House (H.R. 1583) last week would remove the insurance industry’s limited antitrust exemption under the McCarran-Ferguson Act but maintain state regulation of insurance. The proposed legislation introduced by Rep. Gene Taylor (D.MS), and Peter DeFazio (D.OR), is the latest attempt to repeal what is a very limited federal antitrust exemption for the insurance industry that has been in place for more than 60 years under the McCarran-Ferguson Act. Insurance Information Institute (I.I.I.) background information on the McCarran-Ferguson Act is available online. The new I.I.I. Insurance Handbook for Policymakers also provides insight on this and other key issues affecting the industry. The following response to the introduction of the so-called Insurance Industry Competition Act has been issued by the Property Casualty Insurers Association of America (PCI).