Camp Fire News

PG&E Settles Wildfire Claims with Insurers for $11 Billion

PG&E Corp said on Friday it has reached an $11 billion settlement to resolve most claims by insurance carriers related to 2017 and 2018 wildfires in California. It is the second major settlement of wildfire claims by PG&E, and requires …

PG&E’s Plan to Cap Fire Liabilities at $18 Billion Draws Ire

California utility giant PG&E Corp. has issued its long-awaited plan for emerging from the largest utility bankruptcy in U.S. history: Raise debt, offer equity and cap wildfire liabilities that led to its collapse at $18 billion — less than half …

Wildfire Acreage Way Down in California this Year – So Far

LOS ANGELES — California is not burning. At least not as much as it has in recent years. Acreage burned through Sunday is down 90% compared to the average over the past five years and down 95% from last year, …

PG&E Faces Fresh Pain as Old Fire Claims Return to Haunt It

Seven months after a state agency absolved PG&E Corp. of blame for a deadly 2017 wildfire, the utility giant faces the potential of billions in new legal liabilities — and it’s unclear how it would pay for them. Despite the …

Moody’s Says Wildfire Catastrophe Losses the New Normal in Calif.

California had long been a good bet for homeowners’ insurers, with most carriers having no problem recouping paid losses through premiums. But in 2017 and 2018, the state experienced six of the 10 most destructive wildfires in its history and …

PG&E Disagrees With WSJ Story Over Power Line Upgrades

PG&E Corp. told a judge it “strongly disagrees” with a Wall Street Journal storysuggesting that the utility knew its equipment near the ignition point of California’s deadliest wildfire badly needed upgrades and nonetheless deferred maintenance. The company’s response, filed Wednesday, …

PG&E Judge Demands Response to WSJ Report on Faulty Lines

PG&E Corp. was ordered by a federal judge overseeing its probation to respond to a Wall Street Journal story claiming the utility knew its power lines could cause wildfires and failed to perform upgrades. PG&E “must provide a fresh, forthright …

If PG&E Wants Newsom’s Fire Aid, Here’s What It Has to Do

It’s no secret that California Governor Gavin Newsom wants to create a fund that the state’s electric utilities can tap to cover the costs of catastrophic wildfires. Now, the utilities know what he wants in return. Based on a proposal …

PG&E Reaches $1 Billion Wildfire Settlement With Local Agencies

PG&E Corp., the California utility giant that went bankrupt five months ago amid crippling wildfire liabilities, has reached a $1 billion settlement with local government agencies that were harmed by blazes its equipment ignited. The deal between PG&E and 14 …

Travelers Bulks Up Wildfire Protection After Deadly 2018 Blazes

Travelers Cos. is strengthening its wildfire-defense efforts after deadly blazes swept through California last year. The insurer is adding a service to all of its California home and landlord policies, helping customers prepare their property for a fire by different …