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The electricity producer PG & E Corp. Friday announced it has reached a settlement agreement of US $ 11 billion with entities representing about 85% of subrogation claims under insurance for 2017 and 2018.
PHOTO FILE: The PG & E team is working on power lines to repair the damage caused by the camp fire in Paradise, California, USA, on November 21, 2018. REUTERS / Elijah New / Photo File
REUTERS: The electricity producer PG & E Corp. announced Friday that it has entered into a US $ 11 billion settlement agreement with entities representing approximately 85 percent of the 2017 and 2018 subrogation claims for fire insurance.
The company stated that these claims were based on payments made by insurance companies to individuals and companies with forest fire damage insurance coverage.
(Report by Arundhati Sarkar in Bengaluru, edited by Arun Koyyur)
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