The storm is then forecast to move northeast along the Atlantic Coast and batter the Carolinas, which are still recovering from Hurricane Florence last month.
Wind shear, which has slowed the storm's development so far, is forecast to relax, which should also enable the storm to gain strength.
Scott warned that Michael could reach land as a Category 2 hurricane, with winds in excess of 100 miles per hour.
A tropical storm warning means that tropical storm conditions are expected somewhere within the warning area within 36 hours.
The fact there have been these events in recent weeks and months does mean that for some worldwide re/insurance players, aggregate and attritional losses have been mounting, meaning that any sizeable losses from hurricane Michael could see reinsurance and retrocessional arrangements quickly coming into play.
The storm is forecast by the National Hurricane Center to move mostly north, crossing through the Gulf Of Mexico before a landfall along the Florida panhandle on Wednesday afternoon. The NHC now calls for Michael to reach category 3, or major hurricane strength by late Tuesday, making landfall along the Florida Panhandle late Wednesday or early Thursday.
As of 11 p.m. EDT, Michael was moving north at 12 miles per hour with maximum sustained winds of 125 miles per hour. Tuesday and Wednesday's forecasts will be highly dependent on the track.
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Scott is expected to be briefed by federal, state and local emergency management officials at the State Emergency Operation Center at 5 p.m. Sunday. The storm is about 200 miles SSW of Apalachicola and moving north at 12 mph.
Gov. Rick Scott said he intends to declare a state of emergency for counties in the Florida Panhandle and Big Bend areas as the region begins to ready itself for the storm. A hurricane warning was in effect for the Alabama-Florida border to the Suwanee River, with a hurricane watch in place from the Alabama-Florida border to the Mississippi-Alabama border.
For DC, although the current track keeps the center of Michael southeast of our area, it will still influence our weather.
Tallahassee Mayor Andrew Gillum, Florida's Democratic nominee for governor, had planned to campaign in South Florida on Monday and Tuesday, but instead threw himself into helping his city's residents fill sandbags and get their storm preparations completed. "Higher amounts of 2" to locally 3" will be possible across southern Maryland, closer to the center of Michael's path.
The National Hurricane Center indicates that Tropical Depression 14 has strengthened and is now Tropical Storm Michael, centered over the northwest Caribbean Sea.
Alabama Governor Kay Ivey declared a statewide emergency on Monday ahead of the storm.