PG&E Corp. said in court papers on Wednesday that it “strongly disagrees” with a suggestion in a Wall Street Journal article that the company knowingly deferred maintenance on equipment that caused California’s Camp Fire, the deadliest and most destructive wildfire …
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 …
State fire investigators have determined that transmission lines owned by Pacific Gas & Electric Co caused the deadliest and most destructive wildfire on record in California, a blaze that killed 85 people last year, officials said on Wednesday. The wind-driven …
California’s insurance commissioner and a lawmaker want to the state to consider buying insurance in the private market to cover rapidly increasing costs of fighting wildfires due to climate change. State Sen. Bill Dodd, D-Napa and California Insurance Commissioner Ricardo …
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, …
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, …
Insured loss estimates from major natural catastrophes in 2018 totaled roughly $71.5 billion, the highest since 2011’s annual market losses of $120 billion, according to Willis Re. However, the insured losses in 2018 are slightly less than half of those …
The costliest natural catastrophes occurred in the United States in 2018 with one of California’s devastating wildfires and Hurricane Michael topping the list, according to Munich Re. A report from Munich Re on last year’s natural disasters pointed to “clear …
This post is part of a series sponsored by CoreLogic. The last few months of 2018 were record-setting and heartbreaking for the survivors of wildfires in California. The Camp Fire in Butte County quickly became the most destructive wildfire on …
California Insurance Commissioner Dave Jones said this week that most insurers were following a notice he issued requesting that residential property insurers provide at least 75 percent and up to 100 percent of contents coverage limits for wildfire victims who …
