Bloomberg Law
Sept. 30, 2022, 6:07 PM

PG&E’s $272 Million Insurance Deal Nets $117 Million for Victims

Daniel Gill
Daniel Gill

PG&E Corp. announced a deal with most of its directors and officers insurance policy carriers that will direct $117 million toward a trust for victims claiming PG&E caused massive wildfires in Northern California.

The $117 million will come from the total $272 million the insurers have agreed to pay the company under the deal. The settlement resolves disputes with PG&E’s insurance carriers over all but four of their D&O policies, as well as claims against the executives held by the fire victim trust created as part of PG&E’s Chapter 11 plan.

The trust sued PG&E executives in 2021, alleging breaches ...