“Sandy is still developing but we expect this to be aserious event likely to cost the industry at least several billiondollars. However, after what has been a mild loss year this far, weview that industry balance sheets, both primary and reinsurer, arebraced to absorb the punch.” –Cliff Gallant, ManagingDirector, Keefe Bruyette & Woods
“One of the biggest storms of our lifetimes is unfoldingright now.” –Kelly Cass, anchor, The WeatherChannel
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“This is the most catastrophic event that we have facedand been able to plan for in any of our lifetimes.”–Connecticut Gov. Dan Malloy
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“At this stage, everybody is confident that the staging process,the prepositioning of resources, commodities, equipment that aregoing to be needed to respond to this storm are in place.”–President Obama
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“The size of the storm is going to carve a pretty largeswath of bad weather. This is not just a coastal event.”–Rick Knabb, director of the National HurricaneCenter
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“We're going to have a lot of impact, starting with thestorm surge. Think: 'Big!'” –Craig Fugate, theadministrator of the Federal Emergency ManagementAgency
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“Catastrophe losses are down 40-50 percent through thethird quarter [compared to last year]. Even with losses from Sandy,2012 catastrophe losses will still be well below 2011.”–Robert Hartwig, president of the Insurance InformationInstitute
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