According to Moody's, estimate uncertainties for the storms include:

Complex hazard patterns: The outer rainbands of Hurricane Milton also produced numerous damaging tornadoes in southern Florida. Additionally, the storm interacted with a mid-latitude jet over the Gulf of Mexico that resulted in dual swaths of strongest winds: one to the south of the storm associated with the tropical portion of Milton, and one that wrapped around the back of the system (i.e. to the north) associated with its interaction with the jet.
Coverage leakage across events: Preliminary reports indicate several instances where structures damaged in Helene that may have been uninsured or underinsured for flood, were also affected by high winds and wind-driven rain in Milton.
Event attribution: If a claim was opened after Helene and if there is additional damage in Hurricane Milton, it will likely result in a single payout, but there will be questions on which event the payout is assigned to, and the resulting impact on potential reinsurance recoveries.
Annual hurricane deductibles: Most homeowner policies in Florida have an annual hurricane deductible. If the deductible was exhausted during Helene, it could mean higher losses for any damage covered by the insurer in Milton.
Damageable Exposure: The overlap in high winds across the two storms makes it challenging to assess damage. Structures damaged by Helene are unlikely to have been repaired before Milton and may be prone to additional damage from Hurricane Milton.

Hurricane Milton roared ashore in Florida near Sarasota late on Wed., Oct. 9, knocking out power to more than 3 million customers and causing widespread flooding.

Special Reports /

Hurricanes Helene, Milton could reach $55 billion in losses

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