Insurance: Implications from Hurricane Idalia

Hurricane Idalia made landfall on Florida’s west coast on Wednesday, August 30, as a powerful category-three hurricane. It has since been downgraded to a still-powerful category-two storm and is set to impact Florida, Georgia, and the Carolinas. CFRA believes insured losses from this event, which are likely to be at least several billion dollars and will come about a year after Hurricane Ian caused nearly $100 billion in damage, are likely to accelerate an insurability crisis already unfolding in the homeowners’ line.