The cost of the Los Angeles wildfires' damage could be at least $250 billion. Here's who pays the bills.

The Los Angeles wildfires could be among the most expensive on record, with damage estimates ranging from $250 to $275 billion, impacting local economies and residents.

A new estimate by AccuWeather categorizes the damage caused by the wildfires as 'catastrophic', predicting costly rebuilding efforts that may take years to complete.

AccuWeather's estimate includes both direct costs like rebuilding and indirect costs such as healthcare bills and impacts on the job market due to the wildfires.

Over 12,300 structures have been destroyed, and long-term financial burdens will likely persist for governments, insurers, and the displaced residents.

Read at Business Insider