The most important federal legislation affecting the regulation of life insurance companies prior to 1999 was the

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The McCarran-Ferguson Act, passed in 1945, gave states the authority to regulate insurance companies within their borders, effectively exempting them from federal antitrust laws. This remains the most important federal legislation affecting the regulation of life insurance companies. The McFadden Act, passed in 1927, allowed national banks to operate branches in multiple states and did not have a significant impact on insurance regulation. The Investment Company Act and SEC Act largely deal with securities regulation, and the Insurance Freedom Act is not a real piece of legislation.

The Most Important Federal Legislation Affecting the Regulation of Life