The terrible devastation wrought by Hurricane Ian on Florida’s southwest coast -- among the most powerful hurricanes to hit Florida in a century -- has been wrenching to watch even from afar: so many lives lost, homes shattered and livelihoods swept away by the storm surge, winds of up to 150 miles per hour and flooding rains.

Initial data from the Florida Office of Insurance Regulation (FLOIR) reveals that more than 375,000 claims have been filed after hurricane Ian, mostly related to residential property, as the entity reports total estimated insured losses of close to $3.28 billion.

The US Federal Emergency Management Agency (FEMA) has reported that its National Flood Insurance Program (NFIP) has already received more than 25,000 claims from hurricane Ian.

Climate change is affecting almost everyone in every region throughout the world. Whether it’s hurricanes off the Atlantic coast, flooding in Louisiana, hailstorms and tornadoes in the Midwest or wildfires in the West, climate change is forcing insurers to re-examine how they prepare for and support catastrophe claims.

Insurers are bracing for a hit of up to $57 billion as they try to assess the damage from Hurricane Ian in Florida and South Carolina, risk modeling firm Verisk said on Monday.

Insurance Commissioner David Altmaier on Wednesday issued an emergency order that will temporarily prevent property insurers from dropping customers in the aftermath of Hurricane Ian. The order will suspend cancellations or non-renewals of policies for two months.

Though the amount of insured damage caused to Atlantic Canada by Hurricane Fiona is expected to reach about $700 million, insurance companies likely won’t have to foot the bill for most the damage the storm left behind.

Hurricane Ian flooded major cities and devastated homes after it made landfall in Florida -- but the damage isn’t done. After temporarily becoming a tropical storm, Hurricane Ian accelerated to Category 1 strength on Thursday night as it barreled toward South Carolina, with landfall expected on Friday.

As projected, tropical storm Ian continued to intensify and has now been upgraded to a hurricane by the National Hurricane Center (NHC), with the model consensus showing a rapidly intensifying hurricane Ian reaching Category 3 or 4 strength as it heads towards the Florida Peninsula.

Long known as the nation’s most hurricane-prone state, Florida has achieved a new status that is aggravating hurricane anxieties and threatening real-estate values. Florida has the worst property-insurance market.

Lloyd’s of London (SOLYD.UL) has set aside 1.1 billion pounds ($1.26 billion) to pay claims related to the war in Ukraine, the commercial insurance market said on Thursday, as it recorded a first-half pre-tax loss of 1.8 billion pounds. The reserves for the Ukraine claims were net of reinsurance, Lloyd’s said in a statement.

Hurricane Earl continues to strengthen Wednesday and could become a major hurricane by week’s end, according to the National Hurricane Center, as it nears Bermuda before pushing out to sea.

Flood maps used by the Federal Emergency Management Agency are out of date and understate the risks to homes and businesses from flooding and extreme rain triggered by climate change, FEMA Director Deanne Criswell said. Those risks are in focus after flooding in Jackson, Mississippi, overwhelmed the city’s main water treatment plant a week ago, leaving more than 150,000 state-capital region residents without safe water.

A recent Risk Perspective blog from Swiss Re’s Mohit Pande has outlined the hurricane risks that the industry and economy currently face.

State Farm Fire and Casualty Co. has agreed to pay the federal government $100 million for potential liability over its handling of flood insurance claims after Hurricane Katrina, settling a lawsuit that two whistleblowers filed against the company more than 16 years ago.