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Most sources noted expectations of a $50bn+ event, but the range of outcomes is huge. -
Destructive storm surge is expected along Florida’s West Coast on Wednesday.
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Moody’s RMS forecast total insured losses from Helene of $8bn-$14bn.
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Moody’s also predicts losses to the NFIP at potentially more than $2bn.
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The storm is packing maximum sustained winds of 175 mph.
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Milton is expected to move north of the Yucatan Peninsula today and cross the eastern Gulf of Mexico by Wednesday.
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The “exceptionally large and powerful” Category 4 storm made landfall in Florida last month.
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Industry sources widely expect the storm to wipe out Q3 earnings progress for domestics.
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Rising sea levels and ocean warming were likely factors in Helene’s strength.
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The figure does not include NFIP losses.
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The numbers will be refined further to arrive at an industry loss estimate.
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The ratings agency expects insured losses of around $5bn for Helene.
