Impact of California Wildfires

California is facing devastating wildfires that have significantly affected communities, leaving entire neighborhoods in ruins. Residents, like Laurie and Robert Bellotta, experienced near misses as their homes almost succumbed to flames, highlighting the unpredictable nature of these disasters. The economic impact is staggering, with estimates of around $50 billion in losses, including about $20 billion in insured damages. This situation underscores the insurance industry's struggle to balance risk and provide coverage as many companies reconsider their policies in light of climate change.