A worker unloads a 24-kilowatt Generac home generator off a truck at Captain Electric on February 18, 2021 in Orem, Utah.
Shares of backup power generation company Generac Holdings surged more than 7% on Monday as Hurricane Milton rapidly strengthened into a Category 4 storm.
Insurance stocks that have weather catastrophe exposure, meanwhile, are falling on potential insured losses tied to Hurricane Milton.
Allstate, Travelers and Chubb saw their shares fall more than 3%, while Progressive and AIG all declined more than 1%.
Lauderdale, plunged more than 20% as the catastrophe-prone carrier with Gulf Coast exposure could see heightened hurricane risks.
Persons:
Hurricane Milton, Chubb
Organizations:
Captain Electric, Generac Holdings, Hurricane, National Hurricane Center, Insurance, Hurricane Milton, Allstate, Travelers, Progressive, AIG, Universal Insurance
Locations:
Orem , Utah, Milton, Yucatan, Mexico, Florida, Tampa, Fort . Lauderdale