Wildfire costs jolt PG&E with huge loss, CEO calls Brown fire plan “insufficient”
Gov.
"The governor's proposal is constructive, but it is insufficient,"
Among the legislative solutions being considered are the evisceration of a legal principal known as inverse condemnation that holds utilities strictly liable if their equipment was a factor in starting a wildfire, as well as efforts to ease the financial burden from liabilities
"The time for action is now," Williams said.
Excluding the one-time costs,
The utility's equipment and facilities were determined by state fire investigators to have caused 16 wildfires last fall, including 12 blazes associated with the
Alarmed that its potential liabilities in the blazes could drain its profits,
The
Among the legislative efforts: wildfire safety and prevention, forcing utilities to upgrade their aging electricity systems, vegetation control, forest management, upending inverse condemnation,using a bond measure to ease
In recent years,
"The insurance industry is saying hold your horses in terms of getting rid of inverse condemnation," said
___
(c)2018 the San Jose Mercury News (San Jose, Calif.)
Visit the San Jose Mercury News (San Jose, Calif.) at www.mercurynews.com
Distributed by Tribune Content Agency, LLC.
Wisconsin ordered to pay for gender reassignment surgeries
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News