SAN FRANCISCO--(BUSINESS WIRE)--The Fire Victim Trust (FVT) would like to thank California Insurance Commissioner Ricardo Lara for responding to the FVT by formally requesting that Insurance Companies extend the time to allow Fire Victims to receive additional policy benefits currently available, but unpaid, for cost of repair and code upgrades. Commissioner Lara also asked the Insurers to extend the time for Fire Victims to claim additional living expenses. Both of these extensions are important for the Fire Victims because they allow them to maintain stability in their temporary quarters as they go through the rebuilding/replacement process. The extensions will also allow the Fire Victims to maximize recovery of their insurance benefits and enable the FVT to conserve funds for the benefit of all Fire Victims.
The tragic events of 2020 including the Covid-19 pandemic and the 2020 wildfires, exacerbated by a shortage of contractors and slow building permitting in many impacted communities, has crippled Fire Victims’ ability to begin the rebuilding process. Meanwhile, under the terms of their current policies, many victims living in rental housing face the prospect of being unable to pay their rent and other bills as the holiday season approaches.
“These Fire Victims have suffered enormous harm and their lives have been dramatically altered in the course of the last several years. I’m heartened to see that the California Department of Insurance has taken bold action to try to ensure that families can maintain a sense of stability by remaining in their temporary homes as they continue on the difficult journey of trying to rebuild not only their former houses, but their lives,” said Justice John K. Trotter (Ret.), Trustee of the FVT.
The FVT announced earlier this month that by Thanksgiving it will begin making preliminary payments of up to $25,000 to eligible victims. To be eligible, claimants must have submitted a Proof of Claim in the PG&E bankruptcy and also must submit a claims questionnaire available at FireVictimTrust.com. Each claim will be reviewed on a case by case basis to determine if the claimant qualifies for a preliminary payment.
PG&E Corporation and Pacific Gas & Electric Company filed for bankruptcy relief in January 2019. On July 1, 2020, the Bankruptcy Court established the FVT as part of the Chapter 11 Plan of Reorganization to administer, resolve and compensate the victims of the Butte Fire, North Bay Fires and Camp Fire. The FVT is administered under the direction of Trustee Justice Trotter and Claims Administrator Cathy Yanni, who were appointed by the Bankruptcy Court. They have extensive experience overseeing complex claims resolution and compensation programs.
About the Fire Victim Trust
Under the direction of the Trustee, the Honorable John K. Trotter (Ret.), and the Claims Administrator, Cathy Yanni, the Fire Victim Trust provides an efficient and equitable process to compensate Fire Victims for both economic and noneconomic damages caused by these fires, including destruction or damage to real estate and personal property, additional living expenses, lost wages, business losses, emotional distress, personal injury and death. For more information, visit FireVictimTrust.com.