Former L.A. Fire Air Ops. crew chief Mike Dubron provides his assessment of the scope and response to the California wildfires and discusses the aerial firefighting capabilities.

"This is likely to end up being one of the most expensive wildfires in modern California history," said AccuWeather's chief meteorologist.

Insured losses from the disaster could be more than $20 billion, or even higher if the fires spread further.

The devastating fires ripping across Los Angeles could cause more than $50 billion in damages – making them the most costly in state history, according to a report. Five wildfires are currently tearing through Santa Monica,

The Los Angeles wildfire is projected to be one of the costliest natural disasters in US history, with damages estimated between $52 billion and $57 billion.