"#HurricaneIdalia could become the costliest #CimateDisaster to hit the #US this year, analysts say, with massive implications for #insurance and risk management industries."

“The business of insuring for catastrophes used to mean exceptional, very rare events and that’s not what we’re seeing. These are much more common, so something’s got to change.”

https://www.theguardian.com/us-news/2023/aug/31/hurricane-idalia-cost-update-category-3-florida-georgia

Hurricane Idalia could become 2023’s costliest climate disaster for the US

Analysts estimate the category 3 storm has already racked up a preliminary cost of $9.36bn, straining the insurance industry

The Guardian