Edison Agrees to $1.16B Settlement Over California Natural Disasters

Southern California Edison on Wednesday announced a $1.16 billion settlement with the insurance companies suing over the Thomas Fire and Montecito Mudslide disasters in Ventura and Santa Barbara counties. 

The Rosemead-based utility company announced the resolution in a news release, stating that Edison made no admission of wrongdoing or liability as part of the agreement. 

“We are making significant progress toward resolving wildfire-related litigation,” said Pedro J. Pizarro, president and CEO of Edison International, Edison’s parent company.

Read the source article at Ventura