Tue 23 Mar 2010
Healthcare Reform and P/C Impacts
Posted by under Insurers and the Economy , Health & Safety , Healthcare ReformNo Comments
As President Obama signs landmark healthcare legislation today, a question for us to consider is how the property/casualty insurance sector may be affected by changes in the nation’s healthcare system. Here’s what the bill means for three key areas that have an impact on p/c insurers and that we’ve highlighted in previous posts:
Antitrust exemption: The healthcare legislation does not include a repeal of the industry’s limited exemption from federal antitrust rules that has been in place for 64 years under the McCarran Ferguson Act. The Property Casualty Insurers Association of America (PCI) has applauded the decision: “We appreciate that Congress recognized repealing McCarran-Ferguson would not provide any benefits to the consumer or the insurance marketplace.” Check out I.I.I. info on antitrust law and insurance.
Tort reform: Despite President Obama’s earlier pledge to address medical malpractice liability concerns as part of healthcare reform, the bill does not contain any meaningful tort reform. […]
Read the rest of this great post here