30 May 2018Insurance

First named storm of 2018 hurricane season causes $50m insured loss

The insured loss in the US from  Subtropical Storm Alberto will be close to $50 million, according to Karen Clark & Company (KCC) estimates.

Storm Alberto is the first named storm of the 2018 hurricane season and made landfall near Panama City, Florida on Monday, May 28 with sustained winds of 45 mph.

Modelled estimates include insured losses to residential, commercial, and industrial properties and autos.

Subtropical storm Alberto formed over the western Caribbean on May 25 and tracked northeastward near western Cuba. Alberto was anticipated to transition to a tropical storm or hurricane as it progressed over the Caribbean Sea.

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More on this story

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12 June 2018   The hailstorm that spread across part of Texas on June 6 - with baseball sized hail reported in Dallas, Tarrant, and Denton counties - is estimated to result in insured losses close to $1 billion, according to Karen Clark & Company (KCC).
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4 June 2018   After severe losses in 2017, predictions for the 2018 hurricane season suggest that this year’s hurricane activity will not be anywhere near as bad, according to a new Fitch Report.
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29 May 2018   Subtropical Storm Alberto made landfall near Laguna Beach in the Florida Panhandle on May 28 afternoon before crawling inland, according to media reports.