A View From The Press Box

What would be nice is to see the insurance world from the view of the real small brokers, which is not the company view or the big broker view! we are the majority of brokers, but rarely asked for thoughts or ideas.

It is amazing that McCarran-Ferguson has lasted this long.

I really do not believe that many people outside of the insurance industry (P&C in particular) understand that the industry's antitrust exemption actually enhances competition, by allowing small-to-midsize insurers to have rates based on sufficient data to have a reasonable level of credibility. Otherwise, only the larger insurers (and those with specific niche markets) would survive.

Of course it won't happen overnight! Only as time goes by and the basis for rates becomes less and less responsive to current conditions will it have a deleterious effect, possibly over the course of many years, to be followed by lots of M&A activity and quite possibly not a few insolvencies.

It is ironic that if McCarran is altered or repealed, well-meaning lawmakers may inadvertently accomplish the very opposite of their intent.