COAL DIVESTMENT AND THE CALIFORNIA INSURANCE INDUSTRY
July 26, 2016
California Insurance Commissioner Dave Jones is using the power of his office to attempt to force insurance companies to divest from coal companies.
California Insurance Commissioner Dave Jones, a former Democratic Assemblyman, has in recent months been extorting insurance companies in an attempt to force them divest “voluntarily” from the bulk of their thermal-coal investments. Jones has vowed to publicize the names of companies that don’t comply with this “voluntary” order. This effort threatens to put insurance companies safe investments at risk and lower returns to the companies and shareholders.