More loss and claims estimates are trickling in from carriers after Hurricane Milton caused widespread wind and flood damage in Florida this month.
Tampa-based Heritage Insurance Holdings said in a preliminary statement that about two weeks after Milton made landfall Oct. 9, Heritage Property & Casualty Insurance Co. had received 5,435 claims – about half the number seen in the same time frame after the more-destruction Hurricane Ian hit Florida in 2022.
The insurer expects to incur about $57 million in catastrophe losses from Milton in the fourth quarter of 2024. For two previous storms