Hurricane Michael made landfall Wednesday on the Florida Panhandle with winds of 155 miles per hour. A hurricane reaches Category 5 status when winds reach 157 miles per hour.

Hurricane Michael hit the Florida Panhandle with frightening fury.

The Category 4 storm was packing maximum sustained winds of 155 mph as it made landfall near Mexico Beach.

Hurricane Michael rapidly gained strength in the warm waters of the Gulf of Mexico Tuesday night and continued to intensify Wednesday morning, threatening to become the most intense hurricane on record to strike the Florida Panhandle. The dangerous Category 4 hurricane has winds up to 145 mph, and is predicted to make landfall Wednesday afternoon.

The head of the National Flood Insurance Program told CNBC’s "Squawk on the Street" Monday that the government is prepared to handle the anticipated rash of claims filed by homeowners in the upcoming days and weeks.

Rising flood waters threatened communities across the Carolinas on Tuesday as storm Florence hit the U.S. Northeast with heavy rains and tornadoes after killing at least 32 people.

As Hurricane Florence surged toward land last week, meteorologists and emergency agencies took notice. The storm was a Category 4 hurricane, the second-strongest type, and it was drawing a bead on the Carolina coast.

Deadly storm Florence moved across western North Carolina early on Monday and continued to dump rain that has nowhere to go except to swell rivers, flood highways and homes, and threaten more lives as it heads towards Virginia and New England.

Hurricane Florence is still hundreds of miles off the U.S. East Coast, but insurers are starting to see their potential costs from one type of claim mount as companies halt operations to let employees flee.

U.S. insurers are bracing for what could be $20 billion in losses as Hurricane Florence barrels toward the Carolinas and Virginia, bringing punishing rains and potentially deadly flooding.

As Hurricane Florence bears down on the southeastern United States, nearly 759,000 homes are in the storm’s path, and a worst-case rebuilding scenario could cost more than $170 billion, according to an estimate from real estate data provider CoreLogic.

As Hurricane Florence churned toward an eventual Eastern Seaboard landfall, evacuations were imposed for parts of three East Coast states Tuesday and millions of Americans prepared for what could become one of the most catastrophic hurricanes to hit the region in decades.

More than 1.5 million people were ordered to evacuate their homes along the U.S. Atlantic coast as Hurricane Florence, a Category 4 storm and the most powerful to menace the Carolinas in nearly three decades, barreled in on Tuesday.

Hurricane Florence has its sights set on North and South Carolina, and if it hits as hard as predicted, the storm will be the most powerful to pound the area in three decades, CNN weather anchor Chad Myers said Monday morning.

Insurtech company REIN has launched DroneInsurance.com, with underwriting by Liberty Specialty Markets, providing usage-based insurance for commercial drone operators and simplifying the process of obtaining both base and liability coverage.

A Loudoun County, Virginia, woman who ran a sleep study clinic has been convicted on charges of running a health care fraud that siphoned $83 million from Medicare and private insurers.