California wildfires are projected to be the costliest disaster in US history, with damages estimated between $250 billion and $275 billion. The fires have resulted in 24 deaths and thousands homeless. Major European reinsurance companies are expected to face significant losses, potentially leading to an insurance crisis in California as insurers limit coverage due to escalating risks. The current situation is worsened by climate change and a growing number of uninsured homeowners. Teljes cikk (Euronews.com)