The state of California announced a one-year moratorium on the cancellation or non-renewal of homeowners insurance policies in zip codes affected by the Los Angeles-area wildfires.

Once the California fires are under control, Los Angeles will likely address another crisis – insurance. CBS News New York's Mahsa Saeidi reports from Altadena.

The Los Angeles wildfires could threaten California’s already unstable insurance market, which carriers have been fleeing as disasters multiply.