What is the definition of Antitrust Laws?

Antitrust laws work to protect consumers from high prices brought about by unfair business practices and anti-competitive behavior. This means that companies selling the same product or service are not allowed to talk with each other and agree on a set price, which will result in a disadvantage to their customers.

Antitrust laws aim to encourage a healthy competition among the business establishments, so that they will offer customers quality service at a reasonable price.

Insurance Companies are exempted from the Antitrust laws and they are allowed to work together in developing insurance forms that will be offered to the public. They are also allowed to share pertinent information such as experience loss data which will help them determine the premiums for their insurance policies.

• Reinstatement
• Registered Principal
• Liquor Liability
• Businessowners Policy (BOP)
• Directors and Officers Liability Insurance