PARADISE, Calif. The Latest on a Northern California wildfire (all times local):
5:30 p.m.
State regulators are taking over an insurance company that cant pay out all expected claims after a massive Northern California wildfire.
Insurance Commissioner Dave Jones said Friday that destruction from the fire has pushed Merced Property & Casualty Company to insolvency. A judge is expected to approve liquidation proceedings Monday.
The company could not immediately be reached for comment.
Insurance department spokeswoman Nancy Kincaid says the department doesnt know how many people affected by the Camp Fire held insurance from the company or the total amount of claims.
The fire that sparked Nov. 8 destroyed more than 13,000 singl…
Read the full article at: https://www.660citynews.com/2018/11/30/the-latest-california-fire-forces-insurer-into-insolvency/