Will Los Angeles wildfires impact California’s home insurance market? [Video]

ALTADENA, Calif. — The fires raging in the Los Angeles area have many people asking what impact it could have on California’s home insurance market.

That’s because – in recent years – most of the state’s biggest property insurers have paused or limited business in California, citing the rising risk of wildfires, high cost of rebuilding homes and state regulations.

The insurance crisis became personal – and dangerous – for Lynne Levin Guzman this week, as she fought overnight Tuesday into Wednesday to save her parents’ Altadena home from the Eaton Fire.

“I know I’m not supposed to be here, but this is my parents’ home,” she told the ABC News crew as they spotted her spraying down a house with a garden hose, as homes around her burned.

Levin Guzman, an emergency room nurse, said her 90-year-old parents lived in the …