Nearly 300 insurance companies refused to

Nearly 300 insurance companies licensed to do business in California have refused to comply with a state regulator's order that they stop making new investments in corporations engaged in energy or defense-related work in Iran.

The insurers, including subsidiaries of Connecticut companies General Re, The Hartford Financial Services Group Inc., ING Group, MetLife and Prudential, are questioning the authority of state Insurance Commissioner Steve Poizner to impose sanctions.

Poizner said 1,010 other insurance companies said they would comply. The U.S. government has identified Iran's government as a sponsor of terrorism.