More than 235,000 commercial properties in Florida, worth $1.1 trillion, face significant risks as Hurricane Milton hits, with wind speeds potentially exceeding 50 mph.
Jefferies equity analysts highlighted that it's early to estimate insured losses, but suggested that damages from Milton could reach mid-double-digit billions in Florida.
The storm, which quickly intensified into a Category 5 hurricane, was downgraded to Category 3 but is forecasted to cause severe flooding and storm surges.
Previous hurricanes, like Helene, show the devastating impact storms can have, emphasizing the vulnerability of heavily populated areas like Florida to such natural disasters.
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