California's levy of $1 billion on private insurers to help pay out wildfire claims in its state-run program has renewed focus on the challenges the industry faces in a market already losing appeal rapidly,

Insurers are estimating losses totaling billions of dollars from the Los Angeles wildfires, including assumed payments to allow for a bail out

Travelers Cos. said it expects about $1.7 billion of pretax losses from the wildfires that devastated Los Angeles last month.

Travelers said it expects pretax catastrophe losses of $1.7 billion from the devastating wildfires that struck southern California in January.

Travelers reports a $1.7 billion impact from Los Angeles wildfires, with future premium changes in California and nationally still uncertain.