ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
The number of flood insurance claims filed for Hurricane Helene surpassed the amount from Hurricane Ian and is estimated to cost the National Flood Insurance Program up to $7 billion.
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The more than 18,000 flood claims filed after Hurricane Milton will add up to $2.5 billion in additional losses for the NFIP, according to a report by St. Petersburg-based Neptune Flood. The private flood insurance market also will sustain hefty losses from the storms of $500 million, estimates show.
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The NFIP’s reliance on outdated flood maps is the overwhelming issue for the market, according to Neptune. Broward County, for example, updated its flood maps for the first time in 40 years in 2024, adding 88,000 properties to hazard zones. More than 3,000 flood maps the NFIP relies on are more than 15 years old, according to the report.
Click here to read the full story on the Orlando Business Journal’s website.
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