Insurance Consumer Protection Act of 1989

Insurance Consumer Protection Act of 1989 - Amends the Liability Risk Retention Act of 1986 to establish consumer protection standards for conducting the business of insurance in interstate commerce.

Prohibits insurers engaged in interstate commerce from selling or offering insurance if they: (1) have shared, after the effective date of this Act, information with another insurer engaged in interstate commerce, directly or indirectly, to facilitate determination of any premium or other related charge or any geographical area in which they will sell or offer insurance; (2) require, as a condition of such sale or offer, that the purchaser acquire from such insurer any other product or service; or (3) have taken any action to impair the availability or affordability of insurance.

Provides that this Act does not prohibit insurers from: (1) collecting, compiling, or disseminating information on claims paid, or reserves held for claims reported, by any insurer; or (2) acting unilaterally to cease or restrict their own sales or increase premiums or other related charges.

Provides that this Act does not affect the responsibility and authority of States to regulate and issue orders concerning the insurance business, if such regulation or order is consistent with and does not prevent compliance with this Act.

Directs the Secretary of Commerce to: (1) monitor implementation of and compliance with this Act, and assess fines for violations; (2) examine this Act's effect on the availability and affordability of insurance; and (3) report to specified congressional officers on such actions and findings within two years after enactment of this Act.

Sets forth provisions for fines, imprisonment, and civil liability for individual and organizational violations of this Act.