California Wildfires Spark $4 Billion in Insurance Payouts. The devastating wildfires that swept through Los Angeles County earlier this year have left a trail of destruction and financial strain. Preliminary data shows that insurance companies have already paid over $4 billion for losses tied to the Palisades and Eaton fires, highlighting the immense scale of these disasters. With tens of thousands of homes destroyed and businesses affected, the true financial toll is expected to climb even higher…