Key Takeaways Insurance company shares dropped as the massive wildfires in California are now estimated to have caused $135 billion to $150 billion in damage and economic loss.AccuWeather said the costs from the deadly blazes could go substantially higher.

California’s insurance commissioner issued a one-year moratorium on policy non-renewals and cancellations in areas affected by devastating wildfires in and around Los Angeles.  “I am using

Industry officials warn of widespread economic damage on par with some of the biggest fire disasters in recent memory.