Wildfires swept through parts of southern California last month, causing indescribable human suffering and property destruction. The rising frequency and magnitude of these events, along with the unintended consequences of some well-intentioned regulations, are also placing unique pressure on the insurance market. In this episode, we talk with Matt Palazola, Senior Analyst for Property and Casualty Insurance with Bloomberg Intelligence, about the size of the wildfires’ insured losses, the risk of financial contagion, and how the insurance industry could change moving forward.