Poizner calls for companies to divest from Iran

February 10, 2010 2:13:27 PM PST
California is taking steps to make sure peoples' insurance premiums are not going towards supporting Iran.

A new law already bans Bay Area companies from directly investing in Iran, which the U.S. considers a state sponsor of terrorism.

But now, Insurance Commissioner Steve Poizner wants to go farther and require insurance companies to divest from their investments with Iran. He says 340 insurance companies have indirect investments in Iran through multinational companies.

Poizner is a republican gubernatorial candidate.