NOT FOR REPRINT
Page Printed from: propertycasualty360.com/author/profile/mark-chediak?page=2
Sign In To follow
An $11B deal already struck with wildfire insurers has come under attack as negotiations between PG&E and fire victims drag on.
A major blaze erupted north of San Francisco as PG&E cuts power to 178,000 homes and businesses.
PG&E Corp. has cut power to 513,000 customers in the biggest planned blackout yet to keep power lines from sparking more blazes.
Shares for PG&E plunged after a judge ruled that a jury can determine whether it should pay billions in damages to wildfire victims.
The insurance-like fund could be tapped into the next time a power line sparks a catastrophic blaze.
More than 2,000 acres burned in Monterey County this week, as fires linked to PG&E Corp. have started to break out across California.
The settlement comes as the California utility giant works through its bankruptcy — the largest of its kind in U.S. history.
Governor Gavin Newsom said he's budgeting $75 million to help communities deal with the threat.
Anyone who gets power from PG&E Corp. could see their lights go out this fire season.
Wildfires that scorched hundreds of thousands of acres just brought one of America's largest utilities to its knees.