An insurance company employee surveys damage at homes destroyed by the Palisades Fire in the Pacific Palisades area of Los Angeles in January. (Credit: Jill Connelly/Bloomberg)
(Bloomberg) — As Los Angeles-area residents recover from one of the costliest natural disasters in U.S. history, California’s insurer of last resort is careening toward another hot and dry summer with its coffers already strained. That’s raising the prospect that state residents will need to pick up the bill for more funds.
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