CLIMATEWIRE | LOS ANGELES — Wednesday’s firestorm in a wealthy area of Los Angeles could be the final straw that breaks California’s insurance market.The state’s insurance market has been teetering on the edge of insolvency for years thanks to catastrophic wildfires that have driven many insurers to stop writing new policies and drop existing ones. Wednesday’s wind-driven wildfires in a part of Los Angeles packed with multimillion-dollar homes could accelerate its collapse.“It’s obviously going to be bad,” said Rep. Brad Sherman, the Democrat who represents the neighborhood between Malibu and…
