Edison to Open LA Fire Compensation Applications by Thanksgiving

Core Viewpoint - Edison International is set to begin accepting applications for compensation related to the Eaton Fire, aiming to issue payments by early 2026, which is significantly faster than litigation processes [1][4]. Group 1: Compensation Program Details - The compensation program was announced in July and is designed to assist victims of the Eaton Fire, which resulted in 19 fatalities and extensive property damage [3][4]. - Victims who lost single-family residences can expect reimbursements ranging from $550 to $750 per square foot, potentially totaling around $900,000 for a 1,500 square foot home [5]. - Additional compensation includes $200,000 for those who settle directly with Edison, plus $100,000 for each adult and $50,000 for each child for pain and suffering [5]. Group 2: Processing Timeline - The company aims for a streamlined process, with claims being processed in about 60 days, followed by checks issued 30 days after acceptance of the offer [6]. - The application process is expected to be operational before Thanksgiving, with resources available to assist victims [6]. Group 3: Financial Implications - Insured losses from the Eaton Fire are estimated to reach up to $23 billion, raising concerns about the impact on both Edison and California's wildfire fund [4]. - Historical data indicates that participation in voluntary claims programs is often limited, as many victims prefer to pursue larger settlements through litigation [4].