Hurricane Milton is on a collision course with Florida, potentially leading to astronomical insurance losses estimated between $60 billion to $175 billion. As it approaches, the storm threatens to impact over 235,000 commercial properties and could result in substantial losses for those holding catastrophe bonds. The financial industry is closely monitoring the situation, with concerns mounting over its implications for municipal debt and the already shaky homeowners insurance market in Florida. Analysts warn that Milton might become one of the costliest insured hurricanes in U.S. history, with early assessments indicating nearly $1 trillion in commercial property at risk. Amid this turmoil, some insurance stocks are declining, while generator maker Generac sees a surge in its stock price. The repercussions of Hurricane Milton could extend beyond Florida, potentially affecting insurance rates in neighboring states and creating broader economic and political challenges.