Los Angeles Times

Insurer Merced went belly up after Camp fire. Here's what policyholders need to know

California regulators have taken over Merced Property & Casualty, an insurance company bankrupted by insurance claims from the Camp fire.

The small San Joaquin Valley insurer had assets of about $23 million, but expected it might have to pay out as much as $64 million in claims for properties in Paradise, the Butte County town where fire destroyed thousands of homes.

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