Civil Litigation,
Government
Jun. 24, 2019
Governor pushes insurance fund to shield utilities from wildfire liability
Gov. Gavin Newsom is proposing to create a multi-billion dollar insurance fund to help shield the state’s major utilities from massive liability stemming from future wildfires.
Gov. Gavin Newsom is proposing to create a multi-billion dollar insurance fund to help shield the state’s major utilities from massive liability stemming from future wildfires.
The fund, which sources speaking on background said could be as low as $12 billion or as high as $24 billion, is intended to give the utilities financial stability while still requiring them to pay for wildfire damages when blazes are caused by their reckles...
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