Southern California Edison (SCE) announced a series of community input workshops for its upcoming Wildfire Recovery Compensation Program, designed for victims of the Eaton Fire. These sessions aim to gather feedback on draft details, including eligibility and valuation criteria, before the program's official launch this fall.
SCE has consulted with Kenneth R. Feinberg and Camille S. Biros, experts in compensation fund design, to structure the program. It will offer two options for claimants: a 'Fast Pay' option with offers within 90 days, and a second option for a more detailed review with offers within nine months.
A significant feature of the program is the 'Direct Claim Premium,' which will provide resident homeowners who lost their homes in the Eaton Fire an additional $200,000 per property on top of any economic and non-economic compensation. Insurance companies and public entities are not eligible to participate in this program.
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