Hawaii Supreme Court rules against insurance companies in wildfire settlement case [USA TODAY]
Hawaiian Electric Industries, Inc. (HE)
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Source: USA TODAY
Hawaii's Supreme Court ruled Monday that insurance companies cannot file suit against those blamed for the devastating 2023 wildfire on Maui, clearing the way for a $4 billion dollar settlement for victims. The insurers asked to be a part of the settlement between thousands of victims and those being sued, including Hawaiian Electric Company and the state, saying that they should be reimbursed for paying out claims in the wake of the fire that killed over 100 people and destroyed thousands of homes. “We will have to pay more than the people who actually caused the damage and that is fundamentally inequitable," Adam Romney, an insurance industry lawyer, said during arguments - according to Maui Now The justices unanimously ruled that under state law insurers could only obtain settlement money by requesting they be reimbursed by those they insure. Reaction to the ruling Hawaii Gov. Josh Green praised the ruling. "The settlement came exactly one year after the fire occurred,
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- Is Hawaiian Electric Industries' 2025 Rebound Justified After Wildfire Liability Concerns? [Yahoo! Finance]Yahoo! Finance
- Hawaiian Electric Industries (NYSE:HE) had its "hold" rating reaffirmed by analysts at Jefferies Financial Group Inc..MarketBeat
- Hawaiian Electric Industries (NYSE:HE) was given a new $12.00 price target on by analysts at Jefferies Financial Group Inc..MarketBeat
- Is Hawaiian Electric Industries, Inc.'s (NYSE:HE) ROE Of 7.1% Concerning? [Yahoo! Finance]Yahoo! Finance
- Profit and debt will fund $2B in Hawaiian Electric ventures [Yahoo! Finance]Yahoo! Finance
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- 11/7/25 - Form 8-K
- HE's page on the SEC website