Hurricane Florence made landfall on the coast of the Carolinas.
The deadly, Atlantic storm clocked in as a category 2 by the time it hit land.
Analysts say damage from Hurricane Florence could exceed the losses from Hurricane Katrina in 2005 and Hurricane Harvey, last year.
Since 1990, there have been 5 other category 2 Atlantic storms that made landfall in the Carolinas.
Two weeks later, the S&P 500 Insurance Industry Group drops by an average 4.7 percent, trading negatively 80 percent of the time.
Further, the S&P 500 Property & Casualty Insurance Sub Industry Group also loses about 4.7 percent, also a negative trade 80 percent of the time.