The California Assembly is considering a bill that 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 requiring biannual reporting. The bill passed the committee by a vote of 13-4. The bill now is before the full Assembly.
Topics California
Was this article valuable?
Here are more articles you may enjoy.
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk 
A 10-Year Wait for Autonomous Vehicles to Impact Insurers, Says Fitch 
Trump Demands $1 Billion From Harvard as Prolonged Standoff Appears to Deepen 
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance From This Issue
