Catastrophe losses
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Milton’s center is projected to make landfall near or just south of Tampa Bay. -
Florida concentrated property insurers are expected to face capital struggles.
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The NHC storm track predicts landfall below Sarasota, south of Tampa Bay.
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The estimate applies to a landfall south of Tampa Bay.
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Earlier this week, Moody’s RMS Event Response estimated the event would cost $8bn-$14bn.
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The storm is now predicted to make landfall south of Tampa Bay.
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Milton stole the limelight from slightly stuck PE-backed brokers, acquisitive globals and the casualty conundrum.
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Most sources noted expectations of a $50bn+ event, but the range of outcomes is huge.
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Destructive storm surge is expected along Florida’s West Coast on Wednesday.
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Moody’s RMS forecast total insured losses from Helene of $8bn-$14bn.
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Moody’s also predicts losses to the NFIP at potentially more than $2bn.
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The storm is packing maximum sustained winds of 175 mph.
Most Recent
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Moody’s RMS stochastic model puts Milton mean wind loss at $25.3bn
October 10, 2024 -
Category 3 Milton makes landfall near Siesta Key
October 10, 2024 -
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