15 U.S.C. § 1012 : US Code - Section 1012: Regulation by State law; Federal law relating specifically to insurance; applicability of certain Federal laws after June 30, 1948

    (a) State regulation
      The 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.
    (b) Federal regulation
      No Act of Congress shall be construed to invalidate, impair, or
    supersede any law enacted by any State for the purpose of
    regulating the business of insurance, or which imposes a fee or tax
    upon such business, unless such Act specifically relates to the
    business of insurance: Provided, That after June 30, 1948, the Act
    of July 2, 1890, as amended, known as the Sherman Act, and the Act
    of October 15, 1914, as amended, known as the Clayton Act, and the
    Act of September 26, 1914, known as the Federal Trade Commission
    Act, as amended [15 U.S.C. 41 et seq.], shall be applicable to the
    business of insurance to the extent that such business is not
    regulated by State Law.