WASHINGTON — Robert Woody, vice president for policy at the Property Casualty Insurers Association of America (PCI) today testified before the House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law at the hearing entitled “H.R. 372 Competitive Health Insurance Reform Act of 2017.” The following statement may be attributed to Woody.
“The McCarran-Ferguson Act is pro-competitive and repealing it will not solve any problems in the health insurance market,” said Woody. “However, PCI is extremely concerned that McCarran has been mis-identifed as the source of the problems. And that misperception of how and why McCarran works could ultimately cause significant harm to the property casualty industry and our consumers, were the repeal ever expanded.”
“The McCarran-Ferguson Act serves a pro-competitive and not an anti-competitive purpose, and this is especially true as it applies in the property casualty industry,” continued Wood. “PCI commends the subcommittee’s consideration of the anti-competitive impacts that proposals to repeal the antitrust provisions of McCarran could have on insurance markets and consumers generally, including in both the health and property casualty sectors.
“PCI appreciates the opportunity to engage in the discussion and defend the McCarran-Ferguson Act. PCI encourages the subcommittee to investigate the true causes of the problems in the health insurance market, and recognize that the McCarran-Ferguson Act is not one of those causes,” concluded Woody.
PCI’s written testimony is attached.