U.S. property and casualty insurance stocks slid in premarket trading on Friday on worries over the billions of dollars in potential catastrophe-related claims from the wildfires menacing Los Angeles,

LA residents rushing to flee wildfires this week faced choke points, gridlock and the tough decision of whether to abandon their cars to the fire.

With strong winds, dry conditions and no immediate end in sight, analysts project total economic losses of $50 billion to $150 billion.