New Calif. initiative supports diverse insurance investments

“‘Invest in Our Diverse Communities’ will help insurance companies target their investments to diverse managers and firms who support environmentally sustainable programs and affordable housing projects for California to help improve our way of life and provide a stable home for those who need it,” said California Insurance Commissioner Ricardo Lara in a release. (Photo: Shutterstock)

Greater diversity, improving inequality and climate change are just a few issues that are now front and center in the U.S., especially in the insurance industry.

To target these issues and more, California Insurance Commissioner Ricardo Lara recently announced the launch of “Invest in Our Diverse Communities,” an initiative to identify investment managers owned by women, veterans and members of the LGBTQ+, Latinx, Asian Pacific Islander, Black, and Native American communities. These managers will then help guide investments made by insurance companies into capital-ready, socially responsible affordable housing and environmental projects across the Golden State.