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Report: Insured losses from Gordon could hit $125M

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Report: Insured losses from Gordon could hit $125M

Insured losses from Tropical Storm Gordon will be approximately $125 million, according to estimates from catastrophe modeler Karen Clark & Co.

Gordon was expected to make landfall along the Gulf Coast as a category 1 hurricane. But the storm weakened and came ashore near the Alabama-Mississippi border, sustaining wind speeds that were just under hurricane strength.

Karen Clark's modeled estimates include losses to residential, commercial, and industrial properties, as well as automobiles, Business Insurance reported.