Hurricane Beryl, the earliest Category 5 Atlantic hurricane on record, made landfall in Texas, bringing strong winds and storm surges to the Gulf Coast. Insurers are expected to face minimal losses from the storm, with estimated damages ranging from $2.5 billion to $3.5 billion. According to catastrophe modeling company Karen Clark & Co., insurers may take a hit of about $2.7 billion from damage caused by the storm. Despite the minimal impact, insurers are bracing for an active hurricane season ahead, with forecasters predicting 25 named storms, 12 hurricanes, and 6 major hurricanes.
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