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The NHC is predicting storm surge, exacerbated by the tide, as high as 15 ft for Tampa Bay. -
The Mexican cat bond offers $125mn of protection against Atlantic named storms.
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A hurricane warning has been issued for the east coast of Florida.
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Most sources noted expectations of a $50bn+ event, but the range of outcomes is huge.
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Hurricane Milton strengthened from a tropical storm on Sunday to a Category 5 storm yesterday.
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Destructive storm surge is expected along Florida’s West Coast on Wednesday.
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Moody’s also predicts losses to the NFIP at potentially more than $2bn.
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The storm is packing maximum sustained winds of 175mph.
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Milton is expected to move north of the Yucatan Peninsula today and cross the eastern Gulf of Mexico by Wednesday.
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Parts of the Yucatan peninsula are under a hurricane warning, though the storm is expected to remain offshore.
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The class of 2023-24 cat bond funds will grow existing investors and add new ones.
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Experts have raised concerns over significant rainfall, record-setting storm surge and lingering Hurricane Helene debris.
