Insured losses are way higher than originally anticipated due to the havoc from back-to-back hurricanes.

What Happened: Moody's Risk Management Solutions, or RMS, crunched the data to determine the financial impact of Hurricanes Milton and Helene.

The firm expects total insured losses to range between $35 billion and $55 billion.

That's nearly quadruple what Moody's originally estimated, with losses falling between $8 billion and $14 billion.

Hurricane Milton, the 13th named storm of the season, closely followed Hurricane Helene, which made landfall just two weeks earlier in Florida's Big Bend region along the Gulf of Mexico.

Both storms hit...