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California's Camp Fire didn't just kill dozens of people and destroy thousands of homes. It also left an insurance company in financial ruins, unable to pay millions of dollars to policyholders.A state judge ruled that Merced Property & Casualty Co. can't meet its obligations after last month's Camp Fire, the deadliest and most destructive wildfire in California history.Merced's assets are about million, but it faced about million in outstanding liabilities just in the city of Paradise, court filings show.Judge Brian McCabe's decision allows the California Department of Insurance to take control of Merced. According to court documents, the state's Conservation & Liquidation Office will start liquidating what's left of the company.Photos: Wildfires devastation in CaliforniaUnlike with bankruptcy, where a business or individual can start over, liquidation means there is no hope for a company's recovery.Fortunately for Merced's policyholders, they are covered by the California Insurance Guarantee Association, which "protects resident claimants in the event of an insurance company insolvency."But the association has maximum benefit limitations, according to Merced."If it ends up that you have a claim in excess of CIGA's limits," the company said, "the excess will be a claim against the assets of Merced." 1337
California National Guard shows dozens of evacuees are evacuated to safety on a Cal Guard Chinook Saturday, Sept. 5, 2020, after the Creek Fire in central California left them stranded. More than 200 people were airlifted to safety after a fast-moving wildfire trapped them in a popular camping area in California's Sierra National Forest. The California Office of Emergency Services said Black Hawk and Chinook helicopters were used for the rescues that began Saturday night and continued overnight. (California National Guard via AP) 543
California's Camp Fire didn't just kill dozens of people and destroy thousands of homes. It also left an insurance company in financial ruins, unable to pay millions of dollars to policyholders.A state judge ruled that Merced Property & Casualty Co. can't meet its obligations after last month's Camp Fire, the deadliest and most destructive wildfire in California history.Merced's assets are about million, but it faced about million in outstanding liabilities just in the city of Paradise, court filings show.Judge Brian McCabe's decision allows the California Department of Insurance to take control of Merced. According to court documents, the state's Conservation & Liquidation Office will start liquidating what's left of the company.Photos: Wildfires devastation in CaliforniaUnlike with bankruptcy, where a business or individual can start over, liquidation means there is no hope for a company's recovery.Fortunately for Merced's policyholders, they are covered by the California Insurance Guarantee Association, which "protects resident claimants in the event of an insurance company insolvency."But the association has maximum benefit limitations, according to Merced."If it ends up that you have a claim in excess of CIGA's limits," the company said, "the excess will be a claim against the assets of Merced." 1337
CALEXICO, Calif. (KGTV) - A former DACA recipient was arrested Monday on his second attempt to re-enter the U.S. from Mexico.El Centro Sector Border Patrol agents received information from Remote Video Surveillance Systems operators that a man had crossed the border fence approximately 3 miles east of Calexico.RVSS monitors showed the man running away from agents as they tried to arrest him, U.S. Customs and Border Protection officials said.After a brief chase, agents caught 23-year-old Mexican citizen Juan Manual Montes-Bojorquez.CBP said Montes had previously been deported in February.“Our agents witnessed and arrested Mr. Bojorquez making an illegal entry into the United States for the second time this year,” said Assistant Chief Patrol Agent David S. Kim. “Border Patrol Agents will always stop, detain, and arrest anyone making an illegal entry into the country irrespective of their immigration or citizenship status.” Montes was booked into the Imperial County Jail on pending charges of re-entry after removal. 1047
Caesars Windsor has announced that due to ongoing labor disruption and temporary closure, they will be making the "difficult yet necessary" decision to cancel hotel reservations and postpone Total Rewards promotions scheduled for the remainder of May. Performances for May have also been postponed until a currently undetermined date. These include: Pitbull, May 25; Le Brice, May 26; and Daniel O'Donnell, May 27. 432