Calculated how many billions of damage the worst hurricane Milton can bring to the United States | Business

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The US is still dealing with the damage caused by Hurricane Helen.

“While it is too early to estimate insured losses, a major hurricane strike in one of Florida‘s most populated regions could result in double-digit billion-dollar losses,” Jefferies equity analyst Yaron Kinar and others said in a note. – Some estimate that losses from this 1 in 100 year event in the Tampa area could be as high as 175 [milijardus] US dollars, and in Fort Myers – 70 [milijardų] US dollars.”

The extent of potential damage is difficult to pinpoint and will depend on time and location, with less damage predicted closer to Fort Myers.

Analysts need only look back to two years ago, when Hurricane Ian made landfall near the Fort Myers area as a Category 4 storm and left more than $50 billion in damage. dollar losses. Ian was considered a once in 20 year event.

“If Milton Road through the more developed Tampa.” the region will survive, possible losses may be higher”, said Y. Kinaras.

Wells Fargo noted that “it appears that the market is currently anticipating more than $50 billion.” dollars in losses (more than Ian brought in)’. The company identified a wide range of possible losses – from 10 to 100 billion. dollars.

The region has already suffered damage, with Helene, which tore through the region 12 days ago, leaving damage that Moody’s estimated Tuesday at about $11 billion. dollars. In addition to property damage, Moody’s estimates the National Flood Insurance Program will likely experience $2 billion in losses. dollar losses.

Analysts at the company have yet to estimate potential losses for Milton.

“Hurricane Helene is probably the most impactful hurricane of the current 2024 season so far.” event of the hurricane season, although that could change soon as Major Hurricane Milton hits Florida in the near future, said Mohsen Rahnama, chief risk modeler at Moody’s.

Moody’s also noted that many of the hardest-hit regions hit by Helene do not have flood insurance, meaning much of the damage will be uninsured and economic property losses will far exceed insured losses, said the firm’s U.S. Inland Flood model director Firas Saleh.

While Milton’s danger and damage to the region is expected to be extensive, the storm does not pose the same threat to neighboring states as Helena.

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