(KMJ) – Friday morning, Pacific Gas and Electric announced it reached an $11 billion settlement with insurance companies in suits filed over the 2017 and 2018 state wildfires.
This deal covers 85% of the claims filed against the bankrupt utility and covers several major blazes including the Camp Fire. It ravaged the town of Paradise and Butte County in November 2018, killing 86 people.
But, this deal does NOT including claims filed by those who are under- or uninsured. PG&E offered that group an $8.4 billion settlement earlier this week. But their lawyers and lobbyists rejected it as being too low.
Still, Pacific Gas and Electric’s chief executive Bill Johnson spoke positively about Friday’s deal. He said, “Today’s settlement is another step in doing what’s right for the communities, business, and individuals affected by the devastating wildfires.“