Insurance claims from LA fires could ‘fully exhaust’ $21bn state fund
The GuardianWednesday, July 23, 2025 at 11:54:39 PM
A massive wildfire in Los Angeles earlier this year, which killed 17 people and destroyed thousands of buildings, might drain California's $21 billion insurance fund if the utility company Southern California Edison is found liable. The fund was created to cover wildfire damages caused by utilities, but the scale of this disaster could wipe it out entirely—raising concerns about who foots the bill next time.
Editor’s Note: Wildfires are getting more destructive, and this story highlights the shaky financial safety nets in place when utilities are at fault. If the fund runs dry, it could mean higher costs for customers or even leave victims without compensation in future disasters. It’s a wake-up call about how unprepared systems are for climate-driven crises.
— Curated via WP Now’s
