Hurricane Milton: Impact on Florida's Insurance Companies
October 12, 2024
Hurricane Milton struck Florida, causing significant destruction and at least 15 fatalities. Analysts estimate that damages will range from $50 billion to $100 billion, primarily impacting insurance companies and the state insurance fund. This situation could lead to bankruptcies among insurance providers and the exit of major private insurers from the area. Such developments threaten Florida's already high-risk insurance system.