The state’s plan to fix the insurance crisis had barely rolled out when the Los Angeles fires began. Can the market recover and stabilize?

The wind-driven wildfires burning out of control in the Los Angeles area couldn't have emerged at a more perilous moment for California's homeowners, as officials try to rehab what they concede is a deepening "insurance crisis.

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.