Hurricane Milton could cost insurers $60 billion

In response, insurance companies and reinsurers – who provide insurance for insurers – have raised prices and tightened terms for higher-risk properties. RBC analysts believe the sector is now better equipped to handle these situations, citing improved reinsurance contracts, diversified earnings, and stronger financial reserves. Meanwhile, Barclays analysts project Milton’s insured losses could exceed $50 billion, further heightening concerns about the storm’s financial fallout.