Edison reveals compensation for Eaton fire victims' amounts
In a bid to aid the recovery of those affected by the devastating Eaton fire, Southern California Edison (SCE) has announced a compensation fund. This program, designed to provide financial assistance to victims who lost their homes, is estimated to offer hundreds of thousands of dollars.
The compensation program, unveiled in late July, includes money for rebuilding, settling with the utility, and compensation for pain and suffering. Notably, families who lost loved ones in the fire will receive a direct claim premium of $5 million. The families of the deceased will also receive $1.5 million for pain and suffering and other noneconomic damages, and each surviving spouse and other dependent will receive an additional $500,000.
Each adult family member who lost their home will receive $100,000, and each child will receive $50,000 for pain and suffering. For those whose homes were damaged, they will receive a sum proportionate to the extent of damage.
Victims don't need an attorney to apply for the compensation, but Edison is offering to add 10% to the damage amounts, excluding the direct claim premiums, to cover legal fees of those who have a lawyer. SCE has hired consultants Kenneth Feinberg and Camille Biros to help create the compensation program.
Businesses that lost property or revenues when they were forced to close due to the Eaton fire will also receive compensation from Edison. However, it's important to note that SCE has not accepted responsibility for igniting the Eaton fire.
The public must register to attend the meetings at sce.com/directclaimsupdates. The final meeting is at 7 p.m. on Monday. Victims will get their compensation offers within nine months of applying, and Edison is offering a 'fast pay' option where they could receive their financial settlement offer within 90 days.
Edison already faces dozens of lawsuits filed by Eaton fire victims, and settling those lawsuits is expected to take years. Private lawyers representing Eaton fire victims have urged caution, stating that similar programs created by utilities for other wildfires resulted in lower payouts than families received through lawsuit settlements.
It's crucial to remember that the government's investigation into the Eaton fire could take as long as 18 months. Pedro Pizarro, chief executive of Edison International, said the compensation program was designed to help victims focus on their recovery.
The Eaton fire, which destroyed more than 9,400 homes and structures in Altadena and killed at least 19 people, has left a significant impact on the community. In response, Southern California Edison is offering financial compensation to Eaton fire victims who lost their homes. This move is aimed at providing some relief and support during this challenging time.
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