Several Nat CAT modelling firms have given a range of estimates of insured losses incurred because of Hurricane Milton, reported Business Insurance. Milton, deemed the most intense Atlantic hurricane on record, made landfall in Florida on 9 October.
Catastrophe modelling company CoreLogic has said that insured losses from Hurricane Milton will likely be between $17bn and $28bn.
Rival Moody’s RMS said the storm will likely cost insurers between $22bn and $36bn.
Karen Clark & Co estimated that insured losses from Milton will be close to $36bn.
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