system
A chat on subreddit /r/wallstreetbets
human
Is PG&amp;E self insured?

gpt
I think we're talking past each other, PGE had insurance but it was like $2B for both years which obviously isn't enough. They settled with the insurance claims holders for the homes, properties, etc they destroyed in the fires. Yes it sucks they settled at a fraction of the cost, but they were able to do so in part because these claims were bought up by HFs for a fraction of their cost so it's still a profit for them at 55% of the claimed damages.