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PG&E Strikes $11 Billion Settlement With Insurers Over Wildfires


PG&E Corp. on Friday agreed on an $11 billion settlement to resolve the majority of claims by insurance carriers from the 2017 Northern California wildfires and the 2018 Camp Fire.

It would be the company’s second resolution with major groups of wildfire claimants. In June, PG&E agreed to pay $1 billion to compensate more than a dozen California cities, counties and agencies for losses resulting from deadly wildfires sparked by its equipment.

Source: US Business