California Insurance Commissioner Steve Poizner said an inquiry has revealed state insurers hold $12 billion in indirect Iran-related investments and he will push them to divest, leading Florida's regulator to say Poizner's effort should go national.
"I have consulted with other state insurance commissioners to evaluate the practicality of developing a national initiative similar to the undertaking by the California Department of Insurance," said Florida Insurance Commissioner Kevin McCarty.
Mr. McCarty who is secretary-treasurer of the National Association of Insurance Commissioners said he had contacted the NAIC's Securities Valuation Office to "ascertain the feasibility of leveraging national resources to review the financial statements of national insurers to determine their exposure to companies with operations in Iran."
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