California's state insurer of last resort, described by a state legislator: "It feels like a big gamble in many ways. Quite frankly, if this were on Wall Street, I'm not sure you'd be able to get away with this."
https://susanpcrawford.substack.com/p/what-happens-when-a-state-insurer
https://susanpcrawford.substack.com/p/what-happens-when-a-state-insurer
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