The massive fires that have destroyed much of Pacific Palisades and demolished thousands of homes and structures in Los Angeles County threaten an effort to fix California’s troubled home insurance market.

These price gouging protections also apply beyond the housing market to items like food, gas and medical supplies.

Such losses could cause insurers to exit the market completely, which Tokio Marine America Insurance Co. and Trans Pacific Insurance Co. said in April they would do in not renewing 12,556 homeowners.

“However, these events will continue to have widespread, negative impacts for the state’s broader insurance market — increased recovery costs will likely drive up premiums and may reduce property insurance availability.”

Denise Rappmund, a senior analyst at Moody's Ratings, said the fires would have "widespread, negative impacts for the state's broader insurance market".