U.S. Code » Title 15 » Chapter CHAPTER 93— INSURANCE

15 U.S.C. § 101

CONGRESSIONAL FINDINGS AND PURPOSE.

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“(a)Findings.—The Congress finds that—“(1) the ability of businesses and individuals to obtain property and casualty insurance at reasonable and predictable prices, in order to spread the risk of both routine and catastrophic loss, is critical to economic growth, urban development, and the construction and maintenance of public and private housing, as well as to the promotion of United States exports and foreign trade in an increasingly interconnected world;“(2) property and casualty insurance firms are important financial institutions, the products of which allow mutualization of risk and the efficient use of financial resources and enhance the ability of the economy to maintain stability, while responding to a variety of economic, political, environmental, and other risks with a minimum of disruption;“(3) the ability of the insurance industry to cover the unprecedented financial risks presented by potential acts of terrorism in the United States can be a major factor in the recovery from terrorist attacks, while maintaining the stability of the economy;“(4) widespread financial market uncertainties have arisen following the terrorist attacks of September 11, 2001, including the absence of information from which financial institutions can make statistically valid estimates of the probability and cost of future terrorist events, and therefore the size, funding, and allocation of the risk of loss caused by such acts of terrorism;“(5) a decision by property and casualty insurers to deal with such uncertainties, either by terminating property and casualty coverage for losses arising from terrorist events, or by radically escalating premium coverage to compensate for risks of loss that are not readily predictable, could seriously hamper ongoing and planned construction, property acquisition, and other business projects, generate a dramatic increase in rents, and otherwise suppress economic activity; and“(6) the United States Government should provide temporary financial compensation to insured parties, contributing to the stabilization of the United States economy in a time of national crisis, while the financial services industry develops the systems, mechanisms, products, and programs necessary to create a viable financial services market for private terrorism risk insurance.“(b)Purpose.—The purpose of this title is to establish a temporary Federal program that provides for a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism, in order to—“(1) protect consumers by addressing market disruptions and ensure the continued widespread availability and affordability of property and casualty insurance for terrorism risk; and“(2) allow for a transitional period for the private markets to stabilize, resume pricing of such insurance, and build capacity to absorb any future losses, while preserving State insurance regulation and consumer protections.
Notes of Decisions
Cited in 7 cases (1 in the last 5 years), 1930–2023 · leading case: Youngs Rubber Corp. v. CI Lee & Co., 45 F.2d 103 (2d Cir. 1930).
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Youngs Rubber Corp. v. CI Lee & Co., 45 F.2d 103 (2d Cir. 1930). · cites it 2× “Assuming the validity of the plaintiff’s trade-mark, and assuming iuxIhor that its right to maintain suit has not been lost by use of the trade-mark in unlawful business, as provided by Trade-Mark Act 1905, § 21 (15 USCA § 101), its case fails *106 for want of proof of any use…”
United States v. Ray C. Broce & Broce Constr. Co., Inc., 781 F.2d 792 (10th Cir. 1986). “1 contains a paragraph describing state and federal co-operation under the Federal Aid Highway Act ( 15 U.S.C. § 101 , et seq.). See Paragraph 6 of Indictment No.”
Metro. Life Ins. v. Whaland, 410 A.2d 635 (N.H. 1979). “205 , (1979) (“business of insurance” defined for purposes of McCarran-Ferguson Act, 15 U.S.C. § 101 let seq. (1970)). State regulation of group insurance transactions has traditionally encompassed three broad categories: “[f]irst, states supervise group insurance carriers…”
Anheuser-Busch, Inc. v. Cohen, 37 F.2d 393 (D. Maryland 1930). “Section 21 of the Trade-Mark Act (15 USCA § 101) provides that “no action or suit shall be maintained under the provisions of this subdivision of this chapter in any ease when the trade-mark is used in unlawful business, or upon any article injurious in itself. «.■ « -si! phe…”
Recamier, Mfg. Co. v. Harriet Hubbard Ayer, Inc., 59 F.2d 802 (S.D.N.Y. 1932). “This rule, always recognized in equity, has been written into the present TradeMark Aét (see section 21 [15 USCA § 101]). It was held in'the Manhattan Medicine Co.”
United Elec. Coal Companies v. Rice, 9 F. Supp. 635 (E.D. Ill. 1934). “Sections 1, 2, and 3, Norris Act (15 USCA §§ 101, 102, and 103). The contention of counsel for plaintiff that its contract with the United Mine Workers of America is simply a closed shop agreement such as has always been held to, be valid and never thought to be contrary to the…”
Medicaid & Medicare Advantage Prods. Ass'n of Puerto Rico, Inc. v. Carrau-Martinez (D.P.R. 2023). “See 15 U.S.C. §§ 101 , et seq. Specifically, Section 2(a) of the provides in its pertinent part that “[t]he business of insurance, and every person engaged therein, shall be subject to the laws of the several States which relate to the regulation or taxation of such business.”
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