Insurance: investment disclosures.

Existing law creates the Department of Insurance, headed by the Insurance Commissioner, which regulates insurers and insurance practices. Existing law authorizes domestic incorporated insurers to invest their assets in specified securities or loans upon those securities. Existing law requires admitted insurers with annual premiums written in California equal to or in excess of $100,000 to provide information to the commissioner on their community development investments, community development infrastructure investments, and green investments in California. This bill would require an admitted insurer, on or before January 1, 2024, and on or before each January 1 thereafter, to disclose its investments in fossil fuel-related entities and the fossil fuel companies and projects it underwrites or otherwise insures. The bill would require the department to publish that information on its internet website on or before April 1, 2024, and on or before each April 1 thereafter.