Taxes, while commonly passed with some justification for their existence, aren’t required to have any justification. States can tax companies in just about any way they see fit.
Taxes don’t even need to be “fair”. They can tax entities for any reason they want in just about any fashion they can dream up.
Who cares how much or what percentage of damage a hurricane caused is attributable to a specific corporation’s behavior? The state has decided this class of corporation, as a condition of doing business in the state is to pay into this fund. Take it, or leave.