Hurricane Isaias Insured Losses in Florida Near $582 Million as Claims Pile Up

Insured losses in Florida from Hurricane Isaias have climbed to nearly $582 million as claims continue to arrive following the Oct. 9 storm, according to the state's Office of Insurance Regulation.

As of Tuesday, about 55,000 claims tied to the hurricane had been filed statewide, and most came from the western Panhandle. Santa Rosa County led with more than 26,000 claims, followed by nearly 17,000 in Escambia County. Okaloosa County reported about 5,200, Walton County more than 2,000 and Bay County almost 2,000. Roughly 47,000 of the claims involve residential property. The rest cover auto, commercial property, business interruption and other business lines.

Moody's RMS, a risk analytics firm, estimated that losses across multiple states from the Category 2 storm, which made landfall near Destin, will fall between $2.5 billion and $4.5 billion. Karen Clark & Company, a Boston-based catastrophe modeling firm, put privately insured losses nationwide at $3 billion. That figure leaves out National Flood Insurance Program claims, which Moody's RMS estimated at $250 million. Moody's attributed most of the losses to wind damage.

The Karen Clark & Company flash estimate, issued Oct. 15, said the worst effects were concentrated in coastal Panhandle communities such as Destin, Pensacola Beach and Navarre. It also noted major damage in towns around Pensacola Bay, including Milton and Pace.

Moody's described the damage as "manageable." Jeff Waters, the firm's director of North Atlantic hurricane models, said the storm ran into strong wind shear as it neared landfall, which disrupted its structure and considerably weakened its wind field.

On Friday, Gov. Ron DeSantis announced that the Florida Division of Emergency Management had asked President Donald Trump for a major disaster declaration. The request seeks about $237 million in federal resources for northwest Florida, including public assistance for 15 counties and individual assistance for eligible residents in eight designated counties. Six deaths in Florida have been linked to the storm.

Many claims are still working through the process. Just over 3,500 have been closed with some payment, while nearly 8,500 have been closed without any payment. Among claims that remain open, 1,454 have already resulted in some payment.

Past storms offer a point of comparison. Hurricane Milton, which made landfall near Siesta Key in Sarasota County in October 2024, produced $5.6 billion in Florida losses across 385,146 claims. Hurricane Helene came ashore west-southwest of Perry in Taylor County in September 2024, and its 155,182 claims resulted in $2.58 billion in losses.

Hurricane Michael struck the Panhandle at Mexico Beach on Oct. 10, 2018, as a Category 5 storm with 160 mph sustained winds. It caused $9.1 billion in Florida losses. Nearly 159,000 claims were filed, and almost 130,000 of them resulted in some payment.