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With the storm’s losses looking more favourable, questions over rates and gross/net strategies will arise.
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Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power.
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A more residential-skewed loss would impact Lloyd’s carriers in treaty where market share is lower.
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The cost to the NFIP is likely to be a “mid to high single-digit-billion impact”.
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The hurricane has destroyed hundreds of homes and left more than 2.7 million homes without power in Florida.
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Milton’s center is projected to make landfall near or just south of Tampa Bay.
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Contrary to expectations that US casualty would dominate the conversations, Milton took the spotlight.
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Geopolitical conflict could expose the global economy to $14.5tn in losses.
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The NHC is predicting storm surge, exacerbated by the tide, as high as 15ft 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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The figure does not include NFIP losses.