Wall Street analysts predicted the storm could cause anywhere from $50 billion to $175 billion in insured losses, Barron’s reported.

The problems in the Florida homeowner’s insurance sector are well known. For a stretch of several years earlier this century, the state had avoided any major direct hurricane hits. But its luck has shifted and because of climate change,

Hurricane Milton threatens to swamp Florida's troubled property-insurance market, potentially pushing prices higher and threatening coverage in a storm-prone region that already has the highest insurance costs in the nation.