New Calif. Law Pushes Insurers To Go After Diverse Suppliers

Law360, New York (September 24, 2012, 5:17 PM EDT) -- California Gov. Jerry Brown signed a bill Friday requiring the 200 biggest insurance companies in the state to report on efforts to buy goods and services from companies that are owned by minorities, women and disabled veterans.

With the passage of A.B. 53, every insurer that rakes in more than $100 million in premiums from Californians will have to report on outreach efforts to diverse businesses, information that will be made public on the California Department of Insurance's website.

The legislation also requires these companies to...
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