The recent wildfires in Los Angeles have caused catastrophic damage, destroying 12,000 structures and resulting in estimated losses of $135 to $250 billion. Insurance companies, including Mercury General, Allstate, and Travelers, face about $20 billion in payouts. Despite initial stock declines, Wall Street is optimistic as insurers plan to raise premiums and limit new policies, strategically managing their exposure. While devastating for affected individuals, insurance companies are expected to recover financially.
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