Finance & economics | Up in flames
The Los Angeles fires will be extraordinarily expensive
They will also expose California’s faulty insurance market
The fires that are burning through southern California may be shocking, but they are not surprising. Anyone who lived in the Hollywood Hills was aware of the danger. And for anyone who forgot, their annual insurance renewal provided a reminder at considerable expense. Such moments occasionally dampened the mood in the City of Angels. Now the promised catastrophe has arrived.
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