The state of California announced a one-year moratorium on the cancellation or non-renewal of homeowners insurance policies in zip codes affected by the Los Angeles-area wildfires.

Once the California fires are under control, Los Angeles will likely address another crisis – insurance. CBS News New York's Mahsa Saeidi reports from Altadena.

The wind-driven wildfires burning out of control in the Los Angeles area couldn't have emerged at a more perilous moment for California's homeowners, as officials try to rehab what they concede is a deepening "insurance crisis.

Though the Palisades and Eaton fires are smaller, they rank high in structures burned. Combined, they would equal the second-most destructive California wildfire in history, with more than 9,000 structures burned, according to early Cal Fire estimates. A more detailed analysis of the total number of destroyed structures is still underway.

California’s fire agency reported that five wildfires have burned more than 37,000 acres, destroyed 10,000 buildings, and caused at least 11 deaths.

A ferocious new wildfire is erupting in California's Hollywood Hills and is now threatening iconic landmarks, including the Walk of Fame. It comes as firefighters grapple with a strained water system.