Fanned by strong winds, the wildfires have killed at least 24 people and swept through 40,000 acres in the Greater Los Angeles area.

"We are not out of the woods yet. Please stay on guard for a fast-moving fire," the weather service's Los Angeles office warned.

With high property values, catastrophic damage, and lost economic activity, the Los Angeles wildfires could cost up to $275 billion. Here's who pays.