Wildfires menacing Los Angeles have killed at least 10 people and devoured nearly 10,000 structures, with five fires burning into a third night, as dry desert winds fanning the flames again gathered strength.

Wednesday's firestorm in a wealthy area of Los Angeles could be the final straw that breaks California's insurance market. The state's insurance market has been teetering on the edge of insolvency for years thanks to catastrophic wildfires that have driven many insurers to stop writing new policies and drop existing ones.

The California wildfires could drive up premiums and prompt a new wave of private insurers dropping policies or declining to write new ones.