Insurance Commissioner Ricardo Lara said he's ordered insurance companies to have a one-year moratorium on insurance non-renewals and cancellations for people impacted by the Palisades and Eaton fires.

Early estimates show that the total damage and economic loss due to the Los Angeles wildfires is between $135 and $150 billion.

Simran Parwani/Axios The raging wildfires in L.A. have thrust California's insurance industry back into the spotlight. Why it matters: More than a quarter of properties across California have recently seen insurance rates rise because of wildfires or flooding.