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Hurricane Milton strengthened from a tropical storm on Sunday to a Category 5 storm yesterday. -
Milton threatens to make landfall in Florida shortly after Helene.
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Milton is expected to move north of the Yucatan Peninsula today and cross the eastern Gulf of Mexico by Wednesday.
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Industry sources widely expect the storm to wipe out Q3 earnings progress for domestics.
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Potential for rate cuts at the upcoming Fed meeting should be an addressable event for P&C insurers.
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The underwriting venture, Florida Re, will target both US and LatAm markets.
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Eight Floridians will take on personal residential multi-peril and wind-only policies.
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Citizens’ auto-renewal controls were down from February 2023 to August 2023.
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The ruling only applies to a Florida retirement community.
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The storm brought a lot of rain, but the Floridian doesn’t provide flood insurance.
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CFO Lusk said the company is about 99.2% closed on claims from the 2017 storm.
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The ‘life threatening’ hurricane has potential for “historic heavy rainfall” in the southeastern United States.
