Utility owner PG&E Corp. filed for bankruptcy protection on Tuesday in anticipation of liabilities from California wildfires, including a catastrophic 2018 blaze that killed 86 people. PG&E, which provides electricity and natural gas to 16 million customers in northern and …
California wildland managers said this week that they want to speed up logging and prescribed burns designed to slow wildfires that have devastated communities in recent years. After the deadliest and most destructive blazes in state history, officials are scrapping …
A federal judge who has emerged as a vocal critic of PG&E Corp.’s safety record, said the California utility giant has a “clear-cut pattern” of starting wildfires and needs “strong medicine” put in place before this year’s season begins. U.S. …
On an unusually warm day in northern California, hot and dry winds whipped through the Sierra Nevada foothills northeast of San Francisco. It was Thursday, Nov. 8, and a “red-flag warning” from the National Weather Service was already out, cautioning …
Establishing a California Wildfire Commission is just one idea an expert is tossing out to help the state deal with worsening fire seasons. James Woods was formerly co-leader of Mayer Brown’s Global Insurance Industry Group and chair of the LeBoeuf, …
Power provider PG&E Corp. filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in Northern California in 2017 and 2018. The owner of the biggest U.S. power utility has filed a motion seeking court …
California Insurance Commissioner Ricardo Lara on Monday announced that more than $11.4 billion in insured losses have been reported from the November 2018 fires. That is a 25 percent increase, or more than $2.3 billion, from losses the California Department …
Everest Re Group, Ltd. expects to incur in the fourth quarter 2018 catastrophe losses of $695 million, net of reinsurance, reinstatement premiums and taxes. The catastrophe losses were related to the fourth quarter 2018 events of Hurricane Michael which affected …
The economic costs of last year’s 394 natural catastrophe events came to US$225 billion with insurance covering US$90 billion of the overall total, creating the fourth costliest year on record of insured losses, according to an Aon report titled “Weather, …
PG&E Corp. is so cash-starved that it won’t commit to paying settlements reached with people who lost their homes in a 2015 wildfire caused by a tree falling on a power line. The disclosure by a lawyer for the utility …
