From Yahoo Finance: 2025-04-17 06:17:00

A wildfire in LA’s Pacific Palisades burned 23,707 acres, destroyed 6,837 structures, and killed 12 people. Residents are suing the LADWP, following PG&E’s bankruptcy due to similar lawsuits. Warren Buffett’s Berkshire Hathaway is lobbying to reduce legal risks for utility companies tied to wildfires, aiming to reshape how society pays for fire damages.

Berkshire Hathaway estimated potential claims of $8 billion in Oregon and California due to wildfires. PacifiCorp faces $46 billion in wildfire-related claims. A study shows that power grid equipment causes 3% of US wildfires and 10% in California. With increasing fire risks, utility companies are seeking ways to mitigate financial and legal burdens.

PacifiCorp is adopting safer practices and seeking legislation to limit liability. Utah passed favorable laws for wildfire coverage, inspiring other states. Buffet warned against investing in states with unfavorable wildfire liability laws. Wyoming, Idaho, and Oregon have introduced laws to limit utilities’ liability, sparking debate over accountability and insurance implications.



Read more at Yahoo Finance: Warren Buffett’s Berkshire Hathaway lobbying to protect utility companies that accidentally start wildfires