Claims related to Hurricane Milton, which struck Florida as a Category 3 storm nearly two weeks ago, have increased significantly, with over 221,582 claims and estimated losses exceeding $2.7 billion reported as of October 21, according to the Florida Office of Insurance Regulation. While these figures are below those seen after Hurricane Ian in 2022, Milton’s claims are already surpassing those from Hurricane Idalia and are expected to include a substantial number of storm surge and flood-related losses, likely not covered by insurance. Citizens Property Insurance Corp., Florida’s largest property insurer, has received the most claims from Milton, totaling 41,402 so far. Nevertheless, officials assert that the impact from this storm will not necessitate assessments on policyholders’ insurance premiums.
