Insurance agree to sanctions against Iran

The California Insurance Commissioner announced that 1,010 insurance companies -- more than 75 percent of insurers licensed to do business in California -- have agreed to forgo future investments in 50 companies identified as doing business with Iran's nuclear, energy or defense sectors. As of March 31, 2010, the California Department of Insurance disqualified an estimated $6 billion in holdings in the 50 Iran-related companies.
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