The Los Angeles wildfires, which have reduced entire neighborhoods to smoldering ruins and left an apocalyptic landscape, could become the costliest wildfires in U.S. history in terms of insured losses if analysts' estimates of up to $20 billion materialize.

Economic losses and damage are an estimated $135 billion and $150 billion, the costliest fire event in US history. Hurricane Helene in six states last fall caused up to $250 billion in damage.