Calif. Insurance Chief Pressures Cos. With Iran Ties

Law360, New York (February 10, 2010, 5:42 PM EST) -- California Insurance Commissioner Steve Poizner on Wednesday released a list of 50 foreign firms conducting business in Iran's energy and defense sectors, warning that as of March 31, no statement credit would be given in California for investments in companies named on the list.

Poizner shared the list with the 1,327 insurance companies licensed to do business in California, saying that investments with the companies linked to Iran are subject to increased financial risk and urging insurers to steer clear of investments in the 50 firms....
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