Insurers would have to meet the same legal requirement as banks for investing in minority neighborhoods under legislation being crafted by two House lawmakers.
The representatives--one black and the other Hispanic, who both hail from districts with a preponderance of minority residents--have alerted colleagues they intend to introduce legislation that would place Community Reinvestment Act mandates on insurance companies.
In reaction, representatives of several property-casualty insurance groups said they would oppose the bill, contending such a mandate is inappropriate for insurers.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
