Analysts are evaluating the financial impact of the wildfires that have charred hillsides, homes, and streets in Los Angeles County, with initial estimates suggesting total insured losses could reach as high as $20 billion.

State authorities previously listed the Palisades as one of the five Southern California areas with the highest concentration of potential wildfire risks. The community also is among the areas most impacted by an unavailability of insurance coverage.

Severe and frequent natural disasters have hastened the insurance industry's retreat from high-risk areas, particularly Florida and California.