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 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.

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.