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Bloomberg Intelligence
Hurricane Milton Impact, Israel-Hamas War
Oct 7, 2024
Matthew Palazola highlights the potential tens of billions in insurance losses from Hurricane Milton, impacting vulnerable areas like Tampa Bay. Marc Champion discusses the complexities of Netanyahu's military strategies in the Middle East, stressing the need for a peace vision. Trap Kloman shares insights on the evolution of Commonwealth Financial Network in the advisory landscape. Various experts, including Virgil Kahl and Kris Maksimovich, provide market commentary and wealth preservation strategies amid economic uncertainty and rising alternative investments.
52:19
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Quick takeaways
- Hurricane Milton could result in tens of billions in insured losses, highlighting the risks insurers face with uninsured storm damages.
- The Commonwealth National Conference emphasizes the need for financial advisors to adopt long-term strategic planning amid evolving market conditions.
Deep dives
Impact of Hurricanes on Insurance Industry
The recent discussions focus on the impending hurricanes, especially Hurricane Milton, and their expected impact on insurance losses in Florida. Insured losses from hurricanes are generally significant; however, uninsured losses, primarily due to storm surges and flooding, could dominate this upcoming season. Analysts noted that severe hurricanes can lead to tens of billions in insured losses, with estimates for Milton potentially reaching the range of $65 billion or more. The divergence between the insured and uninsured impacts underscores the growing challenges facing insurers, particularly as homeowners often lack coverage for certain flooding risks.
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