The Hawaiʻi Supreme Court has ruled that insurance companies can’t bring their own legal actions against those blamed for Maui’s catastrophic 2023 wildfire, the deadliest in the U.S. in more than a century.

The massive inferno that was the deadliest in the U.S. in more than a century decimated the historic town of Lahaina, killing more than 100 people.

The Hawaii Supreme Court is scheduled to hear about insurance issues tying up a potential $4 billion Maui wild fire settlement

The defendants blamed for causing the deadly tragedy agreed to pay a total of $4.037 billion to resolve claims by thousands of affected people. But a key settlement term says insurance companies can’t separately go after the defendants to recoup money paid to policyholders.

The outcome could mean higher insurance premiums or a bankrupt utility. It could also upend the proposed settlement, delaying payments to wildfire victims

Hawaii's Supreme Court ruled Monday that insurance companies can't bring their own legal actions against those blamed for Maui's catastrophic 2023 wildfire, allowing a $4 billion settlement that was on that the verge of collapse to proceed.

Hawaii’s Supreme Court has ruled that insurance companies can’t bring their own legal actions against those blamed for Maui’s catastrophic 2023 wildfire, the deadliest in the U.S. in more than a century.

Hawaiian Electric Industries (NYSE:HE) stock climbed 7% amid a favorable Hawaii Supreme Court decision regarding insurance subrogation claims related to the Maui wildfire tort litigation. This rise added to the previous day's 8% gain,