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Iran-related investment bill clear's California State Assembly
- Barger & Wolen LLP
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- Iran, USA
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- May 25 2012
The California Assembly this morning passed a bill that would require the Insurance Commissioner to treat a domestic insurer's investment in a company that does business in Iran as a non-admitted asset
Iran-related investment bill clears committee
- Barger & Wolen LLP
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- Iran, USA
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- May 2 2012
On May 2, 2012, the California Assembly Insurance Committee approved a bill that would direct the insurance commissioner to treat a domestic insurer’s investment in a company that has business operations in Iran as a non-admitted asset
California Department of Insurance settles suit over Iran investments
- Barger & Wolen LLP
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- Iran, USA
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- February 6 2012
On January 27, the California Department of Insurance (“DOI”) issued a news release that it had reached a settlement in its lawsuit that sought to require insurers to disclose investments in companies doing business with Iran
Insurance Commissioner removes four companies from list of companies doing business with Iran
- Barger & Wolen LLP
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- Iran, USA
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- December 14 2010
As we have previously reported in this blog, the CDI issued a broadly-drafted Data Call on July 9, 2009, to all insurers admitted in California seeking information on their investments in or related to Iran as a measure to enforce U.S. governmental sanctions against Iran, including restrictions with respect to doing business with companies that do business in Iran
Commissioner Poizner files suit against Office of Administrative Law
- Barger & Wolen LLP
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- Iran, USA
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- November 9 2010
On November 9, 2010, California Insurance Commissioner Steve Poizner issued a Press Release announcing that he is filing a lawsuit challenging the California Office of Administrative Law's (OAL) October 11, 2010, determination that the Commissioner's efforts to stop insurers from investing in Iran constituted "underground regulations."
California Office of Administrative Law disallows insurance department rule on Iranian investments
- Barger & Wolen LLP
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- Iran, USA
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- October 12 2010
Yesterday afternoon, the California Office of Administrative Law ("OAL") issued a decision finding that a rule adopted by California Department of Insurance ("CDI") to restrict insurers' investment in companies that do business with Iran was an improper "underground" regulation
