Recent reports from Fitch Ratings indicate that Hurricane Milton's destructive force has resulted in insured losses ranging between $30 billion and $50 billion. This figure surpasses the impact of Hurricane Ian in 2022, which caused $60 billion in insured losses along a similar path.
It is important to note that the estimated losses provided by Fitch do not encompass uninsured losses, which could also be substantial. Hurricane Helene, which struck last month, likely incurred more uninsured losses than insured losses due to severe flooding and a lack of flood insurance coverage in certain severely affected regions.
