Hurricane Milton ploughed across Florida on Thursday after slamming into the state’s western coast overnight, bringing flooding in many areas and leaving millions without power.
While south-east Florida has long been seen as a high-risk area for hurricanes, insurers considered the northern part of the state as a more attractive place to write policies, said Oscar Seikaly, chief executive of NSI Insurance, a Miami-based group.
“Insurers have been balancing their business by writing lots of policies up north, which historically was pretty safe — until recently,” he said.
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