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25 February 2018

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PG&E wildfire losses threaten $850mn GL tower

Catrin Shi and Adam McNestrie 5 December 2017

Berkshire Hathaway has the largest exposure on Pacific Gas and Electric (PG&E)'s $850mn general liability (GL) programme, which could be significantly eroded by the Californian wildfires, The Insurance Insider can reveal.

Sources told this publication Berkshire Hathaway has around $200mn on the tower across a number of shared layers in excess of $60mn.

Aegis Mutual leads the placement with a $35mn layer above a retention estimated at a few million dollars. Energy Insurance Mutual writes the next $25mn layer.

The...


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This article was published as part of issue December 2017/1

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