Global analytics firm Verisk expects insured property losses from the Palisades and Eaton fires in the range of $28 billion to $35 billion, one of the highest loss estimates from the industry.

According to Verisk, insured losses from the Palisades fire are expected to fall between $20 billion and $25 billion, while the Eaton fire is projected to result in $8 billion to $10 billion in insured losses. The majority of these losses involve residential properties.

Verisk's Extreme Event Solutions division estimates that the insured industry losses to property from both the Palisades and Eaton fires in Los Angeles,