Generac Stock Surges as Hurricane Milton Intensifies, Insurance Shares Plunge

The Category 5 storm is forecast to hit Florida, boosting generator sales but threatening insurance company profits.

Hurricane Milton has rapidly intensified to a Category 5 storm, expected to make landfall in Florida by Wednesday.
Shares of Generac Holdings, a leading generator manufacturer, rose over 8% as demand for backup power surges.
Insurance stocks, including Allstate and Travelers, fell sharply due to potential losses from the impending hurricane.
Universal Insurance, with significant Gulf Coast exposure, saw its shares drop more than 15% amid heightened risks.
The active hurricane season is causing younger adults to reconsider living in disaster-prone areas, according to a survey.