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CEO NA Magazine > Business > Insurers warn Milton damage could reach $60 billion

Insurers warn Milton damage could reach $60 billion

in Business, News
Insurers warn Milton damage could reach $60 billion
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Damage from Hurricane Milton could amount to $60 billion according to Florida insurers with particularly Tampa Bay and Sarasota County being hard hit.

Large parts of the Florida Coast are still enduring flooding due to the hurricanes storm surge. According to early reports more than 100 homes were destroyed in the storm.

The roof of the Tampa Bay Ray’s Tropicana field was torn off and a crane fell on an office building in St. Petersburg.

Further damage is still expected.

“We still have on the backside of Milton strong winds, heavy rainfall and storm surge affecting portions of the east coast of Florida, with tropical storm conditions and storm surge affecting the Georgia coast, and even some strong winds up into the South Carolina coast,” Michael Brennan, the NHC director, said yesterday.

Floridans have been warned by research bureaus of insurance scams with about 50% of claims in Florida being discarded.

By Staff

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