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Question: Which of the following established that the federal government could regulate insurance, but only in those areas vacated by the states

Options:

  1.  Paul versus Virginia
  2.  Madison versus Monroe
  3.  The Southeastern Underwriters case
  4.  Public Law 15
  5.  The McFadden Act

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4. Public Law 15

Public Law 15 or McCarran-Ferguson Act or simply the McCarran Act established that the federal government could regulate insurance, but only in those areas vacated by the states.


Explanation:

The McCarran-Ferguson Act declared “that the continued regulation and taxation by the several States of the business of insurance is in the public interest, and that silence on the part of the Congress shall not be construed to impose any barrier to the regulation or taxation of such business by the several states.” It stated that from then on, “no Act of Congress shall be construed to invalidate, impair, or supersede any law enacted by any state for the purpose of regulating the business of insurance.”

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