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.
Real journalism.Trusted by millions.
Unlimited access to in-depth reporting, expert analysis, and the stories that shape our country.
Subscribe Now
Already a member? Log in
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.