Gordon Insured Losses Estimated At $125 Million

Insured losses from Tropical Storm Gordon, which made landfall near the Alabama-Mississippi border Tuesday night with 70 mph sustained wind speeds, will be approximately $125 million, according to Karen Clark & Co. The Boston-based catastrophe modeler issued the estimate Wednesday based on data from its high-resolution U.S. Hurricane Reference Model. Modeled estimates include losses to residential, commercial, and industrial properties as well as automobiles, the company said in a statement. Gordon is the second tropical or subtropical storm to impact the Gulf Coast in 2018 and did not intensify to the Category 1 hurricane that some feared.