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.

Tags: , ,
The downturn persists

Examiner analysis reveals that San Francisco’s economy has a long road to recovery

It’s the Year of the S.F. Recall — but who pays and who benefits politically?

Recalls may become more frequent and contribute to political destabilization