Any Major Florida Hurricane Can be Multi-billion Insurance Loss Event

As tropical storm Idalia continues to develop, the latest from the NHC forecasts a Category 3 major hurricane Idalia will approach the Florida coastline, leading BMS Senior Meteorologist Andrew Siffert to highlight the potential for any storm of this kind to be a multi-billion dollar insurance and reinsurance market loss event.

In his latest update on the development of what will be hurricane Idalia, BMS’ Siffert also cautions that Tampa is still within the forecast cone of uncertainty.

‘A major hurricane in any section of Florida that extends into the Southeast states is likely a multi-billion dollar insurance industry event,’ Siffert explains.