Calif. Bill Would Require Insurers to Report Community Investments
Legislative action has occurred on California Assembly Bill 925. The bill would require insurers to report biannually to the insurance commissioner their community development investments.
When it was initially introduced, AB 925 would have required insurers to invest 1 percent of their premium in California community development investments targeting low and moderate-income areas of California.
AB 925 was heard in Assembly Insurance Committee on Jan.11 and substantially amended to its current form.The bill passed the committee by a vote of 13-4. The bill now is before the full Assembly.
The Association of California Insurance Companies says it opposes the bill.
Popular Today
- Married Massachusetts Insurance Brokers Plead Guilty to Defrauding Clients of $750K
- Chubb: Cyber Claim Severity Nearly Doubled for Large Businesses
- Depreciation on ACV Is OK, Court Says in Knocking Down Class Action vs. Cincinnati
- Baseball Player Sues His Parents, Alleging They Are Misusing His Money