Property
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Geopolitical conflict could expose the global economy to $14.5tn in losses. -
The NHC is predicting storm surge, exacerbated by the tide, as high as 15ft for Tampa Bay.
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A hurricane warning has been issued for the east coast of Florida.
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Hurricane Milton strengthened from a tropical storm on Sunday to a Category 5 storm yesterday.
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The figure does not include NFIP losses.
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Most of the estimated insured losses will be retained by insurers.
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Sources expect significant loss amplification in the claims that will come from Georgia, the Carolinas and Tennessee.
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The numbers will be refined further to arrive at an industry loss estimate.
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Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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Plus the latest people moves and all the top news of the week.
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Property underwriters warn of complacency in how quickly margins can erode.
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Will Curran joined the Lloyd's syndicate earlier this year.
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