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Former Alaska Gov. Sarah Palin drew many standing ovations from a friendly crowd Saturday night as she blasted Washington Democrats and the Obama administration in a keynote speech for what was billed...

WASHINGTON | Republicans sparred with President Barack Obama in their Saturday media addresses over proposals to create jobs, further evidence of the difficulty of bipartisan solutions to the nation&#...

Alachua County Commissioner Cynthia Chestnut will join Michelle Obama in Washington Tuesday as the first lady announces her initiative to battle childhood obesity.

New faces, ideas fuel Visalia council workshop Visalia Times-Delta He faced mandatory, and expensive, flood insurance which triples in cost as of June 30. Lane, just back from a two-day private business trip to Washington, ... and more »

WASHINGTON — President Barack Obama paid somber tribute Friday to the seven CIA employees killed in one of the worst attacks in the history of the U.S. intelligence agency, calling them patriots...

Alachua County Commissioner Cynthia Chestnut will join Michelle Obama in Washington Tuesday as the first lady announces her initiative to battle childhood obesity.

WASHINGTON – The U.S. Equal Employment Opportunity Commission (EEOC) has posted extensive new data on job patterns in the private sector, as part of the Obama Administration’s Open Government Initiative. via eeoc.gov Another great development for research. For more info...

VA Company Asks Court to Toss 151A National Underwriter Life and Health Insurance News WASHINGTON—An issuer of equity-indexed annuities advised an appeals court to vacate a regulation that the Securities and Exchange ...

In 2009, health spending as a share of GDP showed the biggest jump since 1960.

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STILLWATER, OKLA. — Billionaire booster T. Boone Pickens and the fundraising arm of Oklahoma State's athletic department are suing a life insurance company over a program aimed at bringing in millions of dollars, the university announced Wednesday ...

NEW YORK — Assurant Inc., a provider of specialty insurance, on Wednesday reported a 93 percent drop in fourth-quarter profit amid a restructuring and other items that weighed on its results. Net income sank to $11.9 million, or 10 cents per share ...

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By STEPHEN OHLEMACHERAssociated Press Writer WASHINGTON (AP) - President Barack Obama's proposed budget, stuffed with initiatives to spark jobs and the economy, is getting an early test with lawm...

WASHINGTON | While President Barack Obama is proposing to cut some taxes for companies that hire workers, his budget would raise a host of other taxes on businesses and wealthy individuals.

President Barack Obama delivers a statement on his budget that he sent to Congress, Monday, Feb. 1, 2010, in the Grand Foyer of the White House in Washington. From left are, Council of Economic Counci...

WASHINGTON | President Barack Obama is redirecting America's space program, killing NASA's $100 billion plans to return astronauts to the moon and using much of that money for new rocket technology re...

In an earlier post I gave my views on the talk in Washington about repealing McCarran-Ferguson.

I was called to task by one of our co-bloggers, Mike Feehan, over the source cited and the misspelling of the act. To be honest, when I posted I thought something looked wrong but never bothered to check it out because I was so steamed over the stupidity of those who want to repeal the act. As Mike pointed out, the correct spelling is McCarran, not McCrarran.

He also elaborated, in much less emotional fashion, on what the act really means. Here is his take.

McCarran-Ferguson was enacted primarily to maintain each state’s right to regulate insurance issued for its residents. The limited anti-trust exemption under McCarran-Ferguson leaves intact the states’ duty to regulate insurance.

And, in effect, this prohibits the sale of insurance “across state lines.” For example, a policy cannot be sold – or bought - in Florida unless the Florida insurance commissioner has approved it, and unless it contains all of Florida’s benefit mandates and other policy requirements. In effect, this permits the states to load up on mandates however they choose, and drive up the cost of insurance for everyone in their state however they choose, and so treat their residents like
the captive market that in fact McCarran-Ferguson makes of them.

There is a lot of talk today about the need for more insurance company competition that would reduce premiums by permitting insurers to sell policies “across state lines”. And clearly the reason this has not been done already, is that it cannot legally be done; the federal law, McCarran-Ferguson, does not allow it. We have met the enemy and, as so often, it's Congress.

...

When I went to visit Washington DC last week, I stopped by the National Archives to visit some of the US’s greatest political treasures. By far, the most compelling exhibit was the Declaration of Independence and the Constitution. Taking a look at these two documents side by side was a powerful moment in my life. [...]

Independent Insurance Agents and Brokers of Washington (Big "I" Washington). According to IBA West, "in light of continuing fiscal and operating challenges, in addition to limited membership growth p...

Article Reprints North Dakota Rep. Earl Pomeroy, who has been mentioned as a potential president of a Washington organization that represents life insurance companies, said he would not accept the pos...

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WASHINGTON | As the Obama administration edges toward imposing tougher sanctions on Iran, it has begun upgrading its approach to defending its Persian Gulf allies against potential Iranian missile str...