06:59 AM EDT, 10/16/2024 (MT Newswires) -- Verisk Analytics ( VRSK ) said Wednesday it estimates that insured industry losses for onshore property due to Hurricane Milton will range from $30 billion to $50 billion.

The estimate includes losses from wind, privately insured storm surge, and privately insured precipitation-induced flood losses resulting from Milton's landfall in Florida.

The majority of the insured loss is attributed to wind damage

Verisk said its loss estimates do not include losses covered by the National Flood Insurance Program, uninsured properties, infrastructure, litigation-related losses, certain marine assets, hazardous waste cleanup, extra-contractual obligations, or other non-modeled losses.

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