NU Online News Service, Feb.11, 4:08 p.m. EST
California's Insurance Commissioner said next month he will take regulatory steps against insurers with investments in firms with Iranian connections that could lower their capital and surplus levels.
The move by Commissioner Steve Poizner, which could possibly hurt company financial-strength ratings, came as surprise to an insurers group, which stressed that no insurers have broken any state or federal laws and none have any direct investments in Iran.
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