Hawaiian Electric Rises on Maui Fire Settlement Court Ruling (1)

Hawaiian Electric Industries Inc. rose nearly 8% after the Hawaii Supreme Court issued ruling involving insurance subrogation claims in a $4 billion settlement reached by the utility and government agencies from a 2023 Maui wildfire.

• The court decision is a positive for Hawaiian Electric and should allow for the settlement to go forward, Capstone analyst Josh Price said in a note
  • State Supreme Court found in favor of the settling parties and against the insurers, Price said
• The court ruled that insurance companies are limited to recovering subrogation claims through a lien process under state law
• The court also ruled ...