Reuters
The Pacific Palisades area ravaged by wildfires in Los Angeles is one of the most expensive neighborhoods in the U.S., home to Hollywood A-Listers and multimillion dollar mansions. The scale of losses anticipated in the wildfires now ringing Los Angeles, as well as regulatory changes enacted late last year, could spell an end to relatively cheap homeowners' insurance in areas like the Palisades that are at elevated risk for wildfires, four analysts told Reuters. "One sees relatively low premiums in high-risk markets in California, but that might be starting to change," said Philip Mulder, a University of Wisconsin professor who studies the industry.