Hurricane Ian Losses Rain Down on This Insurer: What Investors Need to Know
Last month, Hurricane Ian, the fifth-strongest hurricane on record to hit the U.S., plowed into Florida's southwest coast. The storm tore through the region's low-lying towns and neighborhoods along its path, leaving many to deal with its destruction.
According to Karen Clark & Co., a risk-modeling firm, losses from Hurricane Ian will cost private insurers as much as $63 billion -- making it the most expensive storm in Florida's history. Progressive (NYSE: PGR) is one insurer that faces hundreds of millions in losses from the storm.
Despite the significant losses, Progressive can weather this storm like those that came before it. Here's why.
Source Fool.com
