Before a wildfire ravaged their Altadena, California street, Louise Hamlin and Chris Wilson were neighbors in nearly identical houses.

An economist's harrowing escape from fire and her big ideas to rescue California from its insurance doom spiral.

Allstate said the wildfires blazed through Southern California last month will bring the insurance company a sizable loss – $1.1 billion.

The economic toll from the California wildfires is just starting to become clear. Allstate is the latest insurer out with numbers. The insurance company says it will pay out $1.1 billion in insured claims.