A new wildfire was reported today at 7:41 a.m. in Los Angeles County. The wildfire has been burning on private land. At this time, there is no data on the containment status of the fire and the cause has yet to be determined.

California Gov. Gavin Newsom has asked Congress to approve nearly $40 billion in aid to help the Los Angeles area recover from January’s devastating wildfires.

German reinsurance giant Munich Re said Wednesday that last month's huge wildfires in Los Angeles had been the costliest "in the history of the insurance industry". Nonetheless, the figure would represent "the most substantial wildfire losses in the history of the insurance industry",

Germany's Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss reported so far by a single European reinsurer for the January catastrophe.

Munich Re estimates that devastating wildfires that struck southern California in January will result in $1.26 billion in claims for the company, it said as it reported fourth-quarter results.