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.
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
What Analysts Are Saying About the 2026 P/C Insurance Market 
