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.

Insurance companies and rates haven’t kept up with increasingly catastrophic events like the California wildfires or hurricanes that recently hit Florida, Tennessee and North Carolina. It can put

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.