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.

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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