PG&E has $992 million in insurance for damages caused by fire

PG&E Corp said it has about $992 million in insurance coverage for damages caused by a pipeline explosion Thursday in San Bruno.

The company’s financial condition could be “materially adversely affected” if, based on the outcome of an investigation, insurance recoveries are unavailable or insufficient to cover losses, according to a public filing Friday by the San Francisco utility owner. PG&E said it has a $10 million deductible, according to Bloomberg News.

LocalnewsUS

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

CCSF file photo
Workforce development fund to support training programs at City College

Supervisors back plans to use $500K toward economic recovery efforts through CCSF

Lakeshore Elementary School was closed in March shortly before SFUSD closed all schools due to coronavirus concerns. The district is now working to prepare all elementary schools to reopen by mid-January.<ins> (Kevin N. Hume/S.F. Examiner)</ins>
School district preparing buildings for hybrid learning

SFUSD plans to use 72 elementary schools and 12 early education sites for first phase of reopening

The installation “Alexandre Singh: A Gothic Tale” is on view at the Legion of Honor, which reopens Oct. 30 with safety protocols in place. (Courtesy Fine Arts Museums of San Francisco)
Legion of Honor reopens in time for Halloween

‘A Gothic Tale’ among exhibitions on view

There have been at least 142 confirmed cases of COVID-19 among workers at San Francisco International Airport. <ins>(Kevin N. Hume/S.F. Examiner)</ins>
Supes back SFO worker healthcare legislation despite airline, business opposition

Costs of ‘Health Airport Ordinance’ in dispute, with estimates ranging from $8.4 M to $163 M annually

Most Read