Hawaii Utility Says It Has $165 Million in Liability Insurance

10/04/2023 09:40
report
Hawaii Utility Says It Has $165 Million in Liability Insurance

Hawaiian Electric Co. disclosed to state regulators that it has $165 million in annual general liability insurance that could help cover third-party property and personal-injury claims tied to the deadly Maui fire.

Hawaii Utility Says It Has $165 Million in Liability Insurance

  • Utility faces $4.9 billion in potential liabilities from blaze
  • Maui fire destroyed town of Lahaina and killed at least 97

Destroyed buildings and homes in the aftermath of a wildfire in Lahaina.

Photographer: Paula Ramon/AFP/Getty Images

Hawaiian Electric Co. disclosed to state regulators that it has $165 million in annual general liability insurance that could help cover third-party property and personal-injury claims tied to the deadly Maui fire.

The utility faces $4.9 billion in potential liabilities from the blaze that razed the historic town of Lahaina and killed at least 97 people, according to an estimate from research firm Capstone LLC. Hawaiian Electric has lost about two-thirds of its market capitalization since the Aug. 8 fire as its role in the disaster has come under scrutiny.

Up Next

Hawaii Utility Says It Has $165 Million in Liability Insurance

Read more --->

0 Like 0 Share -135024 2 0 bloomberg.com defi