In California, some mandatory evacuation zones around Los Angeles have been reopened after firefighters made significant gains battling two massive wildfires. As of Thursday evening, the Palisades fire was 27% contained, while the Eaton fire was 55% contained.

Officially, the death toll from the fires stands at 27. But a new study by Yale University’s Climate Connections predicts that toxic smoke, combined with disruption to the economy and health, may lead to thousands of deaths over the coming years. It’s already the costliest wildfire event in California history. A report from Wells Fargo and Goldman Sachs estimates the cost to insurers alone could reach as much as $30 billion.