Insurance Companies, Utility Company Reach $2.2 Billion Dollar Settlement Over 2018 Woolsey Fire
A coalition of attorneys has reached a $2.2 billion dollar settlement with Southern California Edison on behalf of more than 100 insurance companies over the destructive Woolsey wildfire.
The November, 2018 blaze killed three people, destroyed more than 1600 structures, and burned more than 96,00 acres in Ventura and Los Angeles counties before it was contained.
Fire investigators concluded that issues with Edison’s power system during high wind started the fire.
The settlement calls for the utility company to reimburse the insurance companies for their payments to fire victims. The deal also calls for the reimbursement of future Woolsey Fire related claims up to an agreed upon cap.