Which government body regulates fair labor standards and anti-trust issues in the insurance industry?

The Federal Government is responsible for regulating fair labor standards and anti-trust issues within the insurance industry primarily because these matters are tied to federal laws and constitutional authority. The Fair Labor Standards Act, for instance, is a federal law that sets standards for minimum wage, overtime pay, recordkeeping, and youth employment, which are applicable across various sectors, including insurance.

Regarding anti-trust issues, the federal government enforces antitrust laws such as the Sherman Act and the Clayton Act. These laws are designed to promote fair competition for the benefit of consumers, and they apply to companies in all industries, including insurance. The enforcement of these laws is managed by federal agencies such as the Federal Trade Commission (FTC) and the Department of Justice (DOJ), emphasizing the federal oversight required to handle such issues.

State governments and specific regulatory bodies like the Department of Insurance might address various aspects of the insurance industry, including policyholder protections and company licensing, but they typically do not handle labor standards or anti-trust issues on a broader nationwide scope. The National Association of Insurance Commissioners (NAIC) serves more as a standard-setting body rather than a regulatory authority, and it does not engage directly in labor or anti-trust issues. Therefore, the federal government