U.S. California's insurer of last resort runs out of money to pay LA fire claims

NAMPA / Xinhua

2025-02-12

NEW YORK, Feb. 12 (Xinhua) -- California's home insurance plan of last resort has run out of money to pay the wave of claims stemming from the Los Angeles fires and will receive a bailout of 1 billion U.S. dollars, state regulators has announced. "The decision to grant the plan's request for a cash infusion comes in the aftermath of two of the most destructive fires in the state's history, which destroyed roughly 6,800 structures in the Pacifi......

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