Insured losses from Subtropical Storm Alberto, the first named storm of the 2018 hurricane season, will be close to $50 million, according to Karen Clark & Co.
KCC’s High Resolution U.S. Hurricane Model estimated the insured losses to residential, commercial, and industrial properties and autos.
Subtropical Storm Alberto made landfall near Panama City, Fla., on May 28, making it the ninth named storm on record to make landfall in the U.S. before June 1, the official start of hurricane season. Its sustained wind speeds reached 45 miles per hour. After making landfall, Alberto rapidly dissipated to a subtropical depression but continued to bring heavy rains and wind as it moved north towards the Carolinas.
Even as the storm weakened, it caused flash floods across the Florida Panhandle and raised ocean levels on the coast by almost three feet.
KCC said the storm’s meteorological history showed it formed over the western Caribbean on May 25 and tracked northeastward near western Cuba.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
New York Regulates Consumer Litigation Financing 
Florida Insurance Agency VP Sentenced to 3 Years in Massive ACA Fraud Scheme 
Four in New Jersey Face Charges in Alleged $250K Travel Insurance Scam 
Good Times for US P/C Insurers May Not Last; Auto Challenges Ahead 
