Estimates of the damage from the various fires raging in Los Angeles are between $50-150 billion, making it the most expensive fire in U.S. history.  Over 38,000 acres of land - an area 2.5 times the size of New York City - has burned. With that, over 10,000 homes are estimated destroyed. The satellite image shown above depicts the scale of the disaster. 

In response, stocks of Traveler's and Allstate home insurance dropped 4% and 6%, respectively last week.  Chubb insurance dropped 7 percent for the week.  JP Morgan estimates that insurance companies will have to pay out $20 billion to cover just the home damages.

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