PG&E Corp said on Thursday its Chapter 11 reorganization plan has been confirmed by a California power regulator, bringing the power provider one step closer to emerge from bankruptcy and participate in a state-backed wildfire fund. The decision by the …
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 …
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 …
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 …