Posted: 3/6/2012
California: Legislation Introduced to Restrict Direct, Indirect Investments Made by Domestic Insurers
AB 2160 was introduced Feb. 24 to “prohibit any indirect investment, defined as an investment in a person that extends credit or provides goods or services in the amount of $20,000,000 or more to the energy sector of Iran, or extends credit or provides goods or services of any amount to the military sector of Iran, of a domestic insurer from being treated as an admitted asset on the financial statements the domestic insurer files with the Insurance Commissioner.”