LARGO, FL – While Florida residents continue their efforts to recover from the damage caused by Hurricane Milton, the financial costs of the storm are becoming more clear.
WTSP reports details of an assessment by Karen Clark & Company, which estimates that privately insured losses from Hurricane Milton are expected to reach $36 billon. In terms of the most costly hurricanes on record, the total would rank Milton behind Hurricanes Katrina and Ian, while placing it at about the same level of losses as Hurricane Ida.
So far, the Florida Office of Insurance Regulation estimates combined insured losses from Hurricanes Helene and Milton at over $3 billion.