Re-Insurance

Insured losses from Alberto could reach $50m

  • Storm warning: Rangers with the National Park Service close off the Highway 399 through Gulf Islands National Seashore, in Florida, before subtropical storm Alberto made landfall on Monday (Photograph by Dan Anderson/AP)

The first named storm of the season, Alberto, is estimated to have caused $50 million of insured losses.

The subtropical storm is only the ninth named storm to make landfall in the US before the official start of the North Atlantic hurricane season, which traditionally starts on June 1.

Alberto formed on Friday and made landfall near Panama City, Florida, on Monday with sustained winds of 45 miles per hour.

Based on the KCC High Resolution US Hurricane Model, Karen Clark & Company has estimated that insured loss in the US will be close to $50 million. Modelled estimates include insured losses to residential, commercial, and industrial properties and vehicles.

Alberto dissipated to a subtropical depression as it tracked inland northwards from Florida.