The “downside credit risks” from the California wildfires are the most pronounced for investor-owned utilities, which could face large liabilities if IOU equipment is found to have ignited the fires. And negative credit implications could emerge for the reinsurance industry …
Total losses from the wildfires in Northern and Southern California could reach from $15 billion to $19 billion, a report out on Tuesday shows. The report from industry data provider CoreLogic shows total losses from the Camp Fire, the most …
PG&E Corp., suspected of starting California’s deadliest wildfire, may soon get help from state lawmakers – just not the help it most wants. An assemblyman plans to introduce a bill in January that would give the state’s largest utility owner …
PG&E Corp., suspected of starting California’s deadliest wildfire, may soon get help from state lawmakers – just not the help it most wants. As early as Dec. 3, a lawmaker plans to introduce a bill that would give the state’s …
Roughly one-in-10 insurers have exposures to PG&E bonds, which could potentially used to payout on losses from the California wildfires, according to ratings agency A.M. Best. It was recently determined that a second power line of PG&E Corp. failed the …
A bill that would help PG&E Corp. absorb liabilities from this year’s fatal wildfires in California is being drafted at the request of a state assemblyman who helped shepherd earlier legislation on the issue. Kellie Smith, an adviser to assemblyman …
Insured losses from the Camp and Woolsey wildfires in California will be between $9 billion and $13 billion, according to the latest estimates from catastrophe modeler RMS. RMS’ latest estimates released on Monday show $7.5 billion to $10 billion for …
A report out on Friday shows 23,044 homes with a total reconstruction cost value of $8.6 billion are at high or extreme risk of wildfire damage within the perimeters of the Camp Fire in Northern California and the Woolsey Fire …
California Insurance Commissioner Dave Jones on Thursday issued a notice to insurers requesting they agree to expediting claims handling for Camp and Woolsey wildfire survivors to help them begin the recovery and rebuilding process more quickly. The Camp Fire, the …
Shares of utility PG&E Corp. fell 18 percent on Wednesday after the company warned of liquidity concerns if its equipment was found responsible for starting the Camp wildfire currently raging in California. The company said liabilities related to the wildfires …
