On the recordJune 25, 1996
I again thank the gentleman. Mr. Chairman, by its terms the McCarran-Ferguson Act renders any Federal statute inapplicable to the activities of insurance companies, if, one, the Federal statute does not specifically relate to insurance; two, the challenged activity constitutes the business of insurance; and, three, the Federal statute would invalidate, impair or supersede State insurance law. An examination of these factors suggests that the application of the Fair Housing Act to property insurance practices is barred by the McCarran-Ferguson Act. As I previously stated, the Fair Housing Act makes no mention of property insurance. Secondly, the pricing, underwriting and marketing of property insurance policies clearly constitutes the business of insurance.
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