Insurance Companies File Lawsuit Against Xcel Energy for Colorado Wildfire

Dozens of insurance companies are suing Xcel Energy, an energy corporation based in Minneapolis, to recover funds paid out for damages caused by Colorado's destructive 2021 wildfire. Investigators found that a power line owned by Xcel was one of the causes of the fire, which destroyed nearly 1,000 homes and resulted in two deaths. The insurance companies allege that Xcel failed to properly design, construct, and maintain its electrical equipment. Xcel disputes the findings and claims that the fire started away from its power lines. More lawsuits are expected to be filed against the company.