Damages are now estimated to reach up to $57 billion. The blazes add to a string of climate-related catastrophes hitting businesses and homeowners.

Wildfires in Southern California continue to rage, and business and homeowners are bracing for immense losses.Philip Cheung for The New York TimesA devastating toll

More of the Los Angeles area is ablaze on Thursday, after a new wildfire in the Hollywood Hills broke out as firefighters sought to contain others, including the 17,200-acre Palisades fire. Critical fire conditions are expected to continue for at least another day.

The blazes are already the most destructive in Los Angeles history. At least five people have died, and predictions of the economic devastation — in terms of damages to homes and landmarks, the film and TV industry and more — are steadily climbing into the scores of billions. And the California

Keep reading this article on Andrew Ross Sorkin – Author New York Times.

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