Southern California Edison will pay $ 2.2 billion to settle insurance claims for a fatal and devastating wildfire his equipment ignited in 2018, the facility announced Monday. Edison, who has acknowledged no wrongdoing, said the agreement covers all pending lawsuits from insurers related to the Woolsey Fire, which has blackened 151 square miles (391 square kilometers) of Los Angeles and Ventura counties. Three people died in the November 2018 fire, destroying more than 1,600 homes and other buildings, and in addition, Edison said he ended the settlements of Thomas Fire in December 2017 and mudslides a month later on the ground that burned. “We have taken another important step towards resolving the pending lawsuits related to forest fires,” Edison CEO Pedro Pizarro said in the statement. The facilities statement said that the total expected losses for the events of 2017 and 2018 are estimated at $ 4.6 billion. “The settlement was fair to all and consistent with previous cases against Edison and other facilities,” said Craig Simon, co-principal counsel for insurers, in a statement to the Ventura County Star. Thomas Fires. In recent years, utility equipment has been blamed for multiple wildfires across the state. Pacific Gas and Electric, the state’s largest utility, was forced into bankruptcy in 2019 after it faced responsibility for the devastating fires in Northern California.
Southern California Edison will pay $ 2.2 billion to settle insurance claims for a fatal and devastating wildfire his equipment ignited in 2018, the facility announced Monday.
Edison, who has acknowledged no wrongdoing, said the agreement covers all pending lawsuits from insurers related to the Woolsey Fire, which has blackened 151 square miles (391 square kilometers) of Los Angeles and Ventura counties. Three people were killed in the November 2018 fire, and more than 1,600 homes and other buildings were destroyed.
Additionally, Edison said that he ended settlements from the Thomas Fire in December 2017 and mudslides a month later on the ground that burned.
“We have taken another important step towards resolving the pending lawsuits related to forest fires,” Edison CEO Pedro Pizarro said in the statement.
The facilities statement said that the total expected losses for the events of 2017 and 2018 are estimated at $ 4.6 billion.
“The settlement was fair to all and consistent with previous cases filed against Edison and other utilities,” said Craig Simon, co-principal attorney for insurance companies, in a statement to the Ventura County Star newspaper.
Investigations found that Edison’s equipment set the fires on Woolsey and Thomas. In recent years, utility equipment has been blamed for multiple wildfires across the state.
Pacific Gas and Electric, the state’s largest utility, was forced into bankruptcy in 2019 after it faced responsibility for the devastating fires in Northern California.
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