On Thursday, shares of PG&E (PCG Quick QuotePCG - Free Report) , owner of Pacific Gas & Electric company, plunged well over 20%. PG&E’s week-to-date loss is now nearing 60%.

It said yesterday that its insurance wouldn’t be able to cover the cost if it’s found responsible for the Camp Fire in Northern California.

Its financial health would be severely impacted, and PG&E’s “financial condition, results of operations, liquidity, and cash flows” would take a big hit.

PG&E also said that it submitted an “electric incident report” to the California Public Utilities Commission on Nov. 8, the day the Camp Fire broke out.

At least 56 people have died in the fire. Hundreds remain missing. Over 8,700 homes have been destroyed, according to estimates.

The Camp Fire has engulfed about 138,000 acres of land and remains only 35% contained. It is the deadliest in the CA’s history.

In Southern California, the Woolsey Fire and Hill Fire are continuing to burn tens of thousands of acres.

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