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Destructive storm surge is expected along Florida’s West Coast on Wednesday. -
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.
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The government flood insurance program now carries $21bn in debt.
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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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Experts have raised concerns over significant rainfall, record-setting storm surge and lingering Hurricane Helene debris.
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The “exceptionally large and powerful” Category 4 storm made landfall in Florida last month.
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Industry sources widely expect the storm to wipe out Q3 earnings progress for domestics.
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Sources expect at least $80mn-$90mn of insured losses stemming from the case.
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Rising sea levels and ocean warming were likely factors in Helene’s strength.
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The figure does not include NFIP losses.
