Claims and losses
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The hurricane has destroyed hundreds of homes and left more than 2.7 million homes without power in Florida. -
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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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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It also reported that severity increased by 17% in the same period.
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The estimate applies to a landfall south of Tampa Bay.
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The storm is projected to make landfall in the next 24 hours in the highly populated Tampa Bay region.
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The government-backed scheme has greater take-up in areas in Milton’s path.
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Restrengthening to Category 5 is still possible, Siffert warns.
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Earlier this week, Moody’s RMS Event Response estimated the event would cost $8bn-$14bn.
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Prior forecasts indicated a more northward track towards Tampa Bay and St Petersburg.
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