Wildfires in the Los Angeles area have led to over $6.9 billion in insurance claims, with losses expected to soar to between $8 billion and $40 billion. Tens of thousands of homes have been devastated, prompting major insurers like Mercury and Travelers to report substantial losses, while the California FAIR Plan has disbursed over $914 million to policyholders. The escalating financial toll highlights the increasing impact of natural disasters on communities and the insurance industry. Source and details of the news