This updates our September 2, 2010 posting.

California insurance companies appear to have new incentives to invest in "green" technology, including clean energy projects, efficiency improvements and environmental technology initiatives.

On October 3, 2010, Gov. Arnold Schwarzenegger signed a bill – AB 1011 – making insurers eligible for a 20% tax credit for qualified investments in low- and moderate-income urban and rural communities. AB 1011 adds environmentally friendly investments to a list of allowed projects under the California Organized Investment Network (“COIN”), a collaboration between insurance regulators, the insurance industry, community affordable housing and economic development organizations.