wildfire fund News

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 …

Insurers Offer Competing Plan to Rescue PG&E from Bankruptcy

SAN FRANCISCO — Insurance companies contending that Pacific Gas & Electric owes them more than $20 billion from wildfire claims want to take over the California utility and pull it out of bankruptcy. The insurers filed court documents Tuesday to …

Judge Approves $105M Fund for California Wildfire Survivors

Pacific Gas & Electric Corp. received approval Wednesday to establish a $105 million fund to help survivors of recent California wildfires started by the utility’s equipment. A federal judge overseeing PG&E’s bankruptcy case approved the utility’s wildfire assistance program to …