Citizens hikes Hurricane Ian loss estimate by $1.2B

Citizens Property Insurance, a state-run company, pushed up its estimate of losses from Hurricane Ian by more than $1 billion, up to $3.8 billion in total, a result of costs of litigation and other claims-related expenses added to the forecast.

Ian hit as a Category 4 storm on Sept. 28, slamming into Southwest Florida and moving across the peninsula, bringing storm surge and heavy winds and rain that led to at least 114 deaths. Citizens made an initial estimate of $2.3 billion to $2.6 billion in losses in the days following the storm.

The new projection takes into account claims made

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