The Hawaii Supreme Court has ruled that insurance companies cannot sue those responsible for the 2023 Maui wildfire, paving the way for a $4 billion settlement to be finalized.
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Insurance companies that want to recoup billions paid to policyholders by pursuing legal action against the defendants said in a statement they're disappointed, but didn't say whether they'll seek review at the U.S. Supreme Court. Gerald Singleton, one of the many attorneys representing the plaintiffs, said they're still trying to make sense of the ruling but are pleased with it. “Now the settlement can take the next step forward," he said.of the Aug. 8, 2023, fire, Gov. Josh Green announced that seven defendants accused of causing the tragedy had agreed to pay $4 billion to resolve claims by thousands of people.
“Today’s decision will help our people heal much sooner, as we continue to rebuild and recover,” the governor said in a text message to the AP. Green had previously denounced as unfair insurance companies' moves to recoup money they've paid to policyholders in a legal process that's called “subrogation."Insurance companies say subrogation is a way to offset costs associated with a catastrophic event so premiums won’t have to go up.
Jacob Lowenthal, another attorney representing the individual plaintiffs, said the ruling doesn't totally prevent insurance companies from getting reimbursed. Instead of going after the defendants, insurers will have to prove to a judge that they deserve to be reimbursed because a policyholder received money from the settlement that was more than their claim.
MAUI WILDFIRES INSURANCE LAWSUIT SETTLEMENT
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