California’s already strained property insurance market is facing a new challenge as two more insurers, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., plan to withdraw from the wildfire-prone state entirely starting in July. The two companies, units …
Roughly a week after State Farm announced that it would nonrenew tens of thousands of homeowners and commercial apartment policies in California, AM Best has downgraded the company that offered those policies. Last week, State Farm cited its responsibility to …
The California Public Utilities Commission (CPUC) approved a $45 million settlement agreement between its Safety and Enforcement Division (SED) and Pacific Gas and Electric Company (PG&E), for the utility’s part in the destructive 2021 Dixie wildfire. The Dixie fire started …
SAN FRANCISCO (AP) — Heidi Lange was among the first to rebuild after the deadliest wildfire in California history destroyed her home in 2018 along with much of the town of Paradise. After the fire, she got divorced, which left …
PG&E Corp. plans to invest $18 billion in wildfire prevention through 2025 following back-to-back seasons of devastating blazes linked to the utility’s network of wires and other equipment. PG&E will bury more than 2,000 miles (3,200 kilometers) of wires, install …
The U.S. has in store an “above-normal” wildfire season if a prediction out on Wednesday from fire weather experts holds true – “intense” may be a better word for the expectations in Western region. Early predictions for the 2022 fire …
SAN FRANCISCO (AP)–Pacific Gas & Electric is poised to emerge from five years of criminal probation, despite worries that nation’s largest utility remains too dangerous to trust after years of devastation from wildfires ignited by its outdated equipment and neglectful …
SAN FRANCISCO (AP) — Pacific Gas & Electric equipment may have been involved in the start of the big Dixie Fire burning in the Sierra Nevada, the nation’s largest utility reported to California regulators. PG&E said in a report Sunday …
Oct 20 — Property and casualty insurer Travelers Companies Inc beat third-quarter profit expectations on Tuesday, helped by higher premiums, lower costs and an increase in returns from non-fixed income investments. The New York-based company, seen as a bellwether for …
As Hurricane Laura pounded the U.S. Gulf Coast with nearly 150 mile-per-hour winds, causing water levels to rise almost 10 feet above normal in the wee hours of the morning, wildfires in California were still raging across more than a …