"Total economic losses from Hurricane Milton and Hurricane Helene could soar over $200 billion, according to early estimates... a big hit to insurers' finances that could ultimately affect millions of people living in the most vulnerable areas."
"As climate change increases the intensity of natural disasters, insurance companies have pulled back from many high-risk areas by raising premiums or ending some types of coverage."
"Hurricane Milton, which hit Florida's west coast as a Category 3 storm...did not ultimately cause the catastrophe that had been predicted for the Tampa Bay area. But it still did plenty of damage."
"Sridhar Manyem...said that while it was too early to estimate insurers' obligations, industry insiders were already beginning to compare Milton to Hurricane Ian, which caused more than $55 billion of insured losses in 2022."
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