Hurricane Milton stormed Florida as a Category 3 hurricane, leading to insured losses estimated between $30 billion to $50 billion, with over 3 million homes left without power.
Fitch reports that Hurricane Milton's insured losses could reach $30 billion to $50 billion, marking it as the largest insured loss since Hurricane Ian's $60 billion in 2022.
Before Milton made landfall, analysts warned that damages could be as high as $100 billion if it had impacted areas like Tampa directly, similar to Hurricane Katrina.
Florida insurers managed to avoid a disaster scenario as Milton weakened to a Category 1 hurricane, resulting in losses significantly lower than previously anticipated.
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