(Sacramento) - Speaker John A. Pérez (D-Los Angeles) and Insurance Commissioner Dave Jones have announced $11 million in new insurance company investments to benefit underserved communities across California. The investments are coordinated through the California Organized Investment Network (COIN), administered by the California Department of Insurance (CDI). Speaker Pérez has authored Assembly Bill 624 to extend the sunset on the COIN program, which is currently set to sunset in 2012. The collaborative effort between the California Department of Insurance, the insurance industry, community affordable housing and economic development organizations, and community advocates facilitates insurance industry investments that provide solid returns to investors and economic and social benefits to California's underserved urban and rural communities. Here's more from the Speaker in this Assembly Access video.