Subtropical Storm Alberto — the first named storm of the 2018 Hurricane Season — will likely cause close to $50 million in insured losses in the United States, according to catastrophe modeling firm Karen Clark & Co.
KCC’s “Flash Estimate” said the insured losses include damage to residential, commercial and industrial properties as well as automobiles.
Alberto formed as a subtropical storm on May 25, but predictions that it would strengthen into a full tropical storm did not materialize. It made landfall near Panama City, Fla., on May 28 with sustained wind speeds of 45 mph. A day before that, it was starting to show characteristics of a tropical cyclone, but dry midlevel air entered the circulation and caused a broad decrease in deep convection, keeping that strengthening from happening, KCC said.
After Alberto hit land, it became a subtropical depression.
Source: Karen Clark & Co.