Reported 1 day ago
Wall Street brokers have started trading claims from insurers regarding the Los Angeles wildfires, allowing investors to purchase rights for compensation from utilities if found liable. Investment firm Oppenheimer & Co. executed the first trade tied to the Eaton and Palisades Fires, amidst ongoing investigations into the causes of the fires. More than 37,000 claims totaling over $12 billion have been filed, as victims sue utility companies for alleged responsibility.
Source: YAHOO