A home burns as the Camp Fire rages through Paradise, Calif., on Thursday, Nov. 8, 2018. Tens of thousands of people fled a fast-moving wildfire Thursday in Northern California, some clutching babies and pets as they abandoned vehicles and struck out on foot ahead of the flames that forced the evacuation of an entire town. (AP Photo/Noah Berger)
Overwhelmed by the large volume of claims from the Camp Fire, Merced Property & Casualty Company has been taken over by California's insurance regulator in an effort to protect the company's policyholders, including those who suffered losses in the Camp Fire.
The company has reached a point of insolvency, and by law, this allows the state's Department of Insurance to take control of Merced. The department has filed with the Merced County Superior Court an expedited request for an order enabling the takeover of the company.
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Danielle Ling
Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].
