A Mandate For N.Y. Insurer Investments?

NU Online News Service, June 4, 4:25 p.m.EST?The head of the New York Assembly Insurance Committeesaid he will hold a hearing Friday on his measure requiringinsurers to put a percentage of assets into "socially responsible"investments in New York.

"New York licensed insurers control vast amounts of capital,"said Assemblyman Pete Grannis, D-Manhattan, who noted that lastyear 31 of 85 domestic life insurers "reported no New Yorkinvestments for the previous year."

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