Reported about 5 hours ago
Hurricane Milton is expected to cause significant shifts in the insurance market, particularly in Florida. Paul Newsome from Piper Sandler highlights the uncertainty surrounding potential damages, which could be unprecedented. While insurance stocks faced pressures before the storm, they may recover as clarity on damages emerges. The rising frequency of storms and increasing living costs are leading to higher insurance premiums, with many large insurers withdrawing from the state, shifting costs back to consumers.
Source: YAHOO