Hundreds possibly dead. Millions without power. And the only question about property damage is how many billions it will run.

When Hurricane Ian landed in Cayo Costa, Florida—winds only 2 mph short of a Category 5 storm and storm surges of up to 12 feet—it was the beginning of a slow disastrous march across the center of the state. Governor Ron DeSantis already requested a White House major disaster declaration "for all 67 counties, for all categories, and all types of assistance, due to the ongoing devastating impacts of Hurricane Ian."

He also requested that President Biden authorize the Federal Emergency Management Agency (FEMA) to provide 100% federal cost share for debris removal and emergency protective measures for the next 60 days. Typically, such requests don't take place until there are official disaster assessments, according to Florida's Division of Emergency Management.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.