America’s bracing for devastation and disruption from Hurricane Milton

Making landfall… Hurricane Milton, designated a Category 3 or 4 hurricane as of yesterday, was expected to start hitting Florida last night. The National Weather Service called Milton “a historic storm” that could be Tampa’s worst weather event in over a century. Millions of people were urged to evacuate. Florida Gov. Ron DeSantis put 51 counties under a state of emergency, advising them to stock up on food and supplies.

• Some communities in Hurricane Milton’s path are still recovering from Hurricane Helene, which hit southern states two weeks ago, killing more than 230 people. Economic losses, including extensive property damage, could be as high as $110B.

In preparation… Airlines canceled hundreds of Florida flights, after adding flights earlier this week to preemptively ferry Floridians away. American, Delta Air Lines, United, and Southwest Airlines also waived change fees. On the seas, Royal Caribbean and Carnival rerouted cruise ships. And on Interstate 75, between Georgia and Florida, traffic nearly quadrupled as people evacuated. About a quarter of the state’s gas stations were said to have run out of fuel. Meanwhile, Disney, Universal, and SeaWorld shut down their Florida parks, and Waffle House closed all its Tampa locations.

• Policies: Insured losses could be as high as $150B if the storm directly hits Tampa. Property owners have already been edged out of increasingly expensive policies in disaster-prone states, and some home insurers have ditched the risky markets.