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The hurricane is likely to prevent rate reductions in property cat in 2025. -
The event has spared (re)insurers the more extreme scenarios that were under discussion earlier this week.
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Milton made landfall south of Tampa Bay at Category 3 on Wednesday night.
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Business email compromise was up 9%, comprising nearly one-third of claims.
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Florida domestics, reinsurance rates and the NFIP are all under watch.
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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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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.
