Raymond James sees insured losses in the range of $11 billion to $17.5 billion and said the disaster could become the costliest wildfire in United States history. Analysts at Morningstar DBRS pegged insured losses in excess of $8 billion, based on preliminary estimates.

See maps of where evacuation orders and warnings are in place for three wildfires burning in the Los Angeles area.

Fox News chief correspondent Jonathan Hunt has the latest on the aftermath of the raging flames on 'Special Report.'

In recent years, insurers like Allstate, American National, The Hartford and State Farm have stopped renewing policies or issuing new policies for California homeowners.

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.

The scourge of wildfires in Los Angeles and the surrounding area are the most destructive in the city’s history, and the city’s fire chief said the region was still in the midst of an “extreme weather event” as a new blaze quickly grew to 1,

The wildfires that destroyed homes in multiple sections of the Los Angeles area will test California’s efforts to stabilize the state’s insurance marketplace after many insurers stopped issuing residential policies due to the high fire risk.