Environmental & Energy,
Civil Litigation
Jan. 26, 2021
SoCal Edison reaches $2.2B settlement with insurers
Socal Edison has officially settled all claims with subrogation (insurance) plaintiffs for $2.2B on Monday. The settlement resolves claims for the November 2018 Woolsey Fire. Edison has already reached deals with approximately 1,000 individual plaintiffs so far arising from the 2017 Thomas Fire, the subsequent Jan. 2018 Montecito debris flow, and the 2018 Woolsey. No admission of wrongdoing or liability was made in reaching these settlements, Edison said in an announcement.
Southern California Edison Co. agreed to pay $2.2 billion to resolve insurance subrogation claims arising out of the 2018 Woolsey Fire that ravaged Ventura and Los Angeles counties.
The settlement is not an admission of liability or wrongdoing by Edison. More than 100 insurance carriers will share the lump sum within 90 days, plus receive reimbursement for future payments up to an agreed cap by July 2023.
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