The Flames of Financial Ruin The insurance industry is staring down the barrel of losses that could hit $25 billion from the latest Los Angeles wildfires. Sure, California’s no stranger to firestorms, but this one’s different. Bigger. Meaner. And it’s exposing the fragility of a bloated insurance sector that’s already buckling under the weight of its promises. Experts are calling this a potential “major financial crisis” for insurers, and I couldn’t agree more. Daniel Aldrich, a Northeastern professor, laid it out plainly: we’re at the edge. And when this system goes over, it’s going to drag homeowners down with it. A Broken Market California’s insurance market has been circling the drain for years. Fires have made it unprofitable, and insurers…
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