Property Insurance Stocks Fall After Hurricane Milton Intensifies | Business Matters (Oct. 7)

U.S. property and casualty insurers are expected to face catastrophe-related claims for billions of dollars from a devastating hurricane season. Catastrophe losses refer to a significant financial hit that insurance companies incur due to large-scale natural or man-made disasters. These events have intensified over the past few years and have significantly hurt profits due to substantial payouts tied to widespread property damage, business interruptions and liability claims.