News: 2009 Press Release

California Insurance Commissioner Steve Poizner today released the details of the data insurers doing business in California must produce regarding their direct and indirect investments in Iran.

Last week, Commissioner Poizner announced that he was launching an effort to probe insurance company investments for ties to Iran. 

"This data call is an effort to ensure companies are complying with California law and to determine what level of indirect investments insurance companies have in sectors of the Iranian economy," says Commissioner Poizner. "When we receive this information, we will closely examine the investments and evaluate the soundness of indirect investments in Iran. I will also share relevant information we collect with federal and other government officials and agencies as appropriate if we detect suspected violations of federal or state laws."

Commissioner Poizner also shared the data call with his fellow state insurance regulators and encouraged them to hold similar probes.

California is "providing this information to you … with the hope that you will launch a similar investigation within your jurisdiction," said the memo sent to other Insurance Commissioners.

Attached are the documents asking insurance companies for the specific data outlined last week.

July, 2009 Data Call Cover Memo
July, 2009 Iran Data Call