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Deadly and destructive wildfires have destroyed or damaged thousands of homes and businesses across the globe, and have caused billions of dollars in insured losses in recent years.

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Wildfire damage PG&E employees work to fix downed power lines burned by wildfires in Santa Rosa, Calif. on Oct. 12, 2017. (Photo: David Paul Morris/Bloomberg)

(Bloomberg) – PG&E Corp. expects to record a “significant liability” for losses stemming from fatal fires in California in October that state officials said were started by the utility giant’s equipment. The shares fell in early trading.

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