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jan 1, 1979 - Group L&H Insurance Co. vs Royal Drug

Description:

Business of Insurance:
1. Insurer spreads/underwrites policyholder's risks
2. Direct contractual agreement
3. Activity is unique to entities within the insurance industry

Continues to be used today

Backstory:
Independent pharmacies in Texas sued Blue Shield + 3 other pharmacies.
They said they violated Sherman Antitrust Act by fixing retail prices of drugs and steered patients via cost-sharing.

They lost because it didn't meet any of the three criteria.

Added to timeline:

3 months ago
0
0
32
Exam 6 - History of Insurance

Date:

jan 1, 1979
Now
~ 39 years ago
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