On Friday, Governor Josh Green of Hawaii stated that the state, its largest power utility, and other defendants had tentatively agreed to pay more than $4 billion to settle lawsuits resulting from the disastrous wildfires in Maui almost a year ago.
According to Green’s office, the proposed agreement—which still needs to be approved—would resolve over 450 cases that plaintiffs, including companies and homeowners, had filed in connection with fires that occurred in Lahaina and Upcountry Maui.
“A historic settlement to resolve all tort claims arising from the Maui wildfires,” was how he described it.
The wildfires, which are expected to have cost $5 billion in losses, are the deadliest in recent American history. In Lahaina, almost 100 individuals lost their lives.
According to Green, the agreement, which is referred to as a principled one, is intricate.
In a statement, Green stated, “This Global Settlement of over $4 billion will help our people heal.” According to him, it guarantees that victims won’t have to endure needless delays in court.
Court approval is required for a final settlement. It also depends on how previously paid insurance company claims are resolved.
According to a statement from Green’s office, the proposed agreement covers seven defendants: the County of Maui, the State of Hawaii, Hawaiian Electric, Kamehameha Schools, West Maui Land Co., Hawaiian Telcom, and Spectrum/Charter Communications.
The Legislature must first approve the state’s share of the settlement. According to Green, payments should start in the middle of 2025.
Nearly a year has passed since a wind-driven wildfire in West Maui began to spread on August 8. Homes, businesses, and the environment were destroyed by other flames that broke out.
The governor’s office reports that almost 2,200 parties filed lawsuits following the fires.
Numerous lawsuits have been filed against Hawaiian Electric, alleging carelessness and disregarding numerous alerts about the potential for a devastating fire to break out on the island.
The investor-owned, for-profit Hawaiian Electric serves 95% of the state’s electric customers.