Hurricane Milton Threatens Central Florida with Potential Direct Hit - Insurance Claims News Article

Hurricane Milton Threatens Central Florida with Potential Direct Hit

Wednesday, October 9th, 2024 Catastrophe Insurance Industry Property Risk Management

Florida is bracing for Hurricane Milton, which is projected to make landfall as a Category 3 hurricane on October 9 along the state’s Central Gulf Coast. Less than two weeks after Hurricane Helene impacted northern parts of Florida, Milton could be even more destructive, potentially striking the Tampa area directly. The storm rapidly intensified to a Category 5 but is expected to weaken slightly before landfall, while still growing in size. The hurricane’s massive size increases the risk of widespread damage from wind and storm surge across a larger area.

The last major hurricane to hit Tampa was in 1921, which brought devastating storm surges. Forecasts predict that Milton’s storm surge in Tampa Bay could reach between 15 to 20 feet, posing a significant threat to hundreds of thousands of homes. Insured losses could reach tens of billions of dollars, although actual damage estimates will depend on Milton’s final landfall location and intensity. If Milton directly strikes Tampa, damage could surpass the $175 billion in total economic losses estimated for a major hurricane in the area.


External References & Further Reading
https://www.theclm.org/Magazine/articles/hurricane-milton-eyes-florida-tampa/3110
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