It came after Jane Castor, Tampa’s city mayor, issued a stark council to residents still sheltering in their homes in the storm’s path. “If you choose to stay in one of those evacuation areas, you are going to die,” she said.
A loss of $100 billion would put Milton on a par with Katrina in 2005, which caused the largest recorded insured loss from a hurricane, analysts at Morningstar DBRS said.
Milton could incur insured losses from $60-$100 billion if the hurricane makes direct landfall with the heavily populated city of Tampa, Florida, the analysts added.
Ian, which hit Florida in 2022 and led to losses of roughly $60 billion, caused the second-largest loss.