### Hurricane Milton Threatens Devastating Financial Losses in Florida

Hurricane Milton, described by analysts as having the potential to be a once-in-a-century event, could inflict damage exceeding $50 billion with a worst-case scenario reaching $175 billion. This alarming forecast comes from Jefferies analysts who highlight the monumental risk to populated regions in Florida.

"A 1-in-100 year event is estimated by some to result in $175 billion in losses for landfall in the Tampa region, and $70 billion in losses in the Fort Myers region," said Jefferies equity analyst Yaron Kinar and colleagues. Given the hurricane's Category 4 classification, the potential financial toll is staggering, reminiscent of Hurricane Ian which hit near Fort Myers two years ago, causing over $50 billion in damage as a Category 4 storm.

Hurricane Milton's destructive potential is further compounded by the recent impact of Hurricane Helene, which left behind $11 billion in damage just 12 days ago, according to Moody's. Additionally, the National Flood Insurance Program faces losses of approximately $2 billion due to Helene. Analysts at Moody's have yet to estimate the damage from Milton, but the cumulative effect on the region is predicted to be severe.

The suspected damage from Hurricane Milton underscores the vulnerability of regions such as Tampa and Fort Myers. Wells Fargo has projected a wide range of potential damages for Milton, estimating figures between $10 billion and possibly up to $100 billion. The market appears to be bracing for losses greater than those caused by Ian.

Milton's trajectory and intensity are crucial factors in determining the extent of the damage. As of Tuesday, the hurricane had weakened slightly but was still powerful with 145 mph winds. Tampa is expected to bear the brunt of the storm on Wednesday morning, facing storm surges of 10 to 15 feet.

Mohsen Rahnama, chief risk modeling officer at Moody's, noted the severe impact of Hurricane Helene on the current hurricane season but indicated that Hurricane Milton could surpass it in terms of damage and financial loss. According to Moody's analyst Firas Saleh, the majority of impacted properties from Helene do not have flood insurance, leading to significant uninsured economic property losses. This scenario could be mirrored with Hurricane Milton, amplifying the economic toll on the region.

With the eyes of residents and analysts fixed on Milton's path, the potential financial and physical devastation underscores the need for preparedness in the face of nature's formidable power.