Filed Under:Markets, Reinsurance

Hartford Sandy Losses Could Exceed $350M

Correction: Dec. 7, 10:59 p.m. EST

The Hartford’s chief executive says that its insured losses for Superstorm Sandy could surpass its reinsurance deductible of $350 million.

In a presentation yesterday at the Goldman Sachs Financial Services Conference, Liam McGee, chairman, president and CEO of The Hartford Financial Services, told attendees that the company “is taking longer than usual” to issue a loss estimate “due to the volume and nature of business interruption claims.”

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