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  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Senate Committee on the Judiciary
    IntroducedSeptember 17th, 2009

Bill Details

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Title

Health Insurance Industry Antitrust Enforcement Act of 2009

Official Title

A bill to ensure that health insurance issuers and medical malpractice insurance issuers cannot engage in price fixing, bid rigging, or market allocations to the detriment of competition and consumers.

Summary

Health Insurance Industry Antitrust Enforcement Act of 2009 - Declares that nothing in the McCarran-Ferguson Act shall be construed to permit health insurance issuers or issuers of medical malpractice insurance to engage in any form of price fixing, bid rigging, or market allocations in connection with providing health insurance coverage or coverage for medical malpractice claims or actions. Makes this Act nonapplicable to any information gathering and rate setting activities of any state commission of insurance or any other state regulatory entity with authority to set insurance rates.
    nsurance Commissioner investigating allegations that Wells Fargo signed up consumers for insurance without their permission SACRAMENTO, Calif. — Insurance Commissioner Dave Jones today directed the California Department of Insurance to launch an investigation into allegations made by former employees of Prudential Insurance Company that Wells Fargo employees signed up consumers for Prudential insurance without the consumers' authorization. Commissioner Jones asked department investigators to investigate all aspects of these allegations, including possible violations of California laws that requiring persons transacting insurance to have an insurance license issued by the department. "Investigators with the California Department of Insurance will investigate new allegations of fraud and misconduct made by former Prudential employees regarding Wells Fargo and its employees," said Commissioner Dave Jones. "Former Prudential employees who filed a whistleblower lawsuit allege that Wells Fargo signed up consumers for Prudential insurance policies without consumer permission much as Wells Fargo admitted its employees illegally signed up consumers for bank products without permission. We will also examine Prudential Insurance company's practices in this regard." Wells Fargo has admitted that as many as two million unauthorized accounts for its consumers were created by thousands of Wells Fargo employees. Prudential has a partnership with Wells Fargo to sell insurance products to Prudential's customers. The California Department of Insurance will conduct its independent investigation in collaboration with the New Jersey Division of Insurance, which is also investigating this issue.
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