Hurricane Matthew's current path and intensity are pointing to a worst case scenario for Florida and could result in "many billions" of dollars in damage, said Paul Walsh, business analyst and meteorologist for The Weather Company.
In fact, it's expected to be a "top five" storm, ranking up there with Sandy, Katrina and Andrew, he told CNBC's "Power Lunch" on Thursday.
Part of the issue is the fact that about 4 million more people are living in the area than when the last big storm hit in 2005, he explained.
"The area is much more built up. It's much more populated. So the exposures are that much higher," Walsh said. "This is a very, very risky situation."