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Karen Clark estimates insured losses from Alberto near $50M

Catastrophe modeling company Karen Clark & Co. estimates insured losses from subtropical storm Alberto may near $50 million, with impacts to residential, commercial and industrial properties, as well as automobiles.

Alberto, the first named storm of the hurricane season, made landfall near Panama City, Fla., on May 28 as a subtropical storm with sustained wind speeds of 45 mph. It was downgraded to a subtropical depression soon thereafter.