Property
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This is based on insured loss estimates of between $20bn and $60bn. -
Milton’s center is projected to make landfall near or just south of Tampa Bay.
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Restrengthening to Category 5 is still possible, Siffert warns.
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The NHC is predicting storm surge, exacerbated by the tide, as high as 15 ft for Tampa Bay.
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A hurricane warning has been issued for the east coast of Florida.
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Hurricane Milton strengthened from a tropical storm on Sunday to a Category 5 storm yesterday.
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Parts of the Yucatan peninsula are under a hurricane warning, though the storm is expected to remain offshore.
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The figure does not include NFIP losses.
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Most of the estimated insured losses will be retained by insurers.
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Paul Bantick will continue to oversee the cyber risks division during the search for his successor.
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The numbers will be refined further to arrive at an industry loss estimate.
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Moody’s described Hurricane Helene as “like Idalia but worse”.
