(Bloomberg) --Hawaiian Electric Co. disclosed to state regulators that it has $165 million in annual general liability insurance that could help cover third-party property and personal-injury claims tied to the deadly Maui fire.
The utility faces $4.9 billion in potential liabilities from the blaze that razed the historic town of Lahaina and killed at least 97 people, according to an estimate from research firm Capstone LLC. Hawaiian Electric has lost about two-thirds of its market capitalization since the Aug. 8 fire as its role in the disaster has come under scrutiny.
The county of Maui and families of victims have sued the utility, alleging that its downed power lines were responsible for the conflagration. Hawaiian Electric has denied wrongdoing.
The company's chief executive officer said in a US congressional hearing
The utility disclosed its insurance coverage in a