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.
Mapfre to Acquire Safety Insurance for $1.54 Billion in Cash Deal 
Former Insurance Agent Sentenced to Jail for Fraud, Again 
eBay Settles Couple’s Harassment, Stalking Claims for $55.7 Million 
Zurich CEO Says Staff Let Go as Regulator Finma Imposes Partial Sales Ban From This Issue
