Wildfires and brush fires can quickly spread into neighborhoods in large part because flying embers start little fires that then set homes ablaze. In the catastrophic Palisades fire, one of the city's iconic thoroughfares was severely damaged and large swaths of homes were reduced to smoldering rubble.

Analysts are evaluating the financial impact of the disaster, with J.P.Morgan doubling its forecast of insured losses to over $20 billion. Wells Fargo also expects similar insured

Los Angeles wildfires have scorched over 35,000 acres, leaving at least 10 dead and destroying more than 10,000 structures as mandatory evacuations extend to over 360,000 residents. The Pacific Palisades and Pasadena fires remain largely uncontained,