Hurricane Ian To Unleash Up To $70 Billion In Losses, Insurance Market Devastation And Even Bigger Spike In Inflation Hurricane Ian To Unleash Up To $70 Billion In Losses, Insurance Market Devastation And Even Bigger Spike In Inflation Just three weeks ago we observed how the 2022 Hurricane season had neared its halfway point without any hurricanes making landfall on the coast of the United States. All that is about to change and with a bang: As the powerful Hurricane Ian bears down on Florida which is rapidly evacuating ahead of landfall, it threatens to further destabilize a homeowners-insurance market already teetering on the edge of disaster. The storm is expected to make landfall along the southwest Florida coast late Wednesday or early Thursday, and could send seawater coursing through the streets of Tampa. While Ian’s strength and trajectory are subject to change in the coming days, one early estimate pegs potential damage and economic losses in the Tampa Bay region at $50 billion to $70 billion, according Chuck Watson, a disaster modeler with Enki Research. That price tag, according to Bloomberg citing data from the National Oceanic and Atmospheric Administration, would make Ian among the costliest storms in US history, as the top end of that range would rank Ian as the sixth-costliest US hurricane.