Independent reinsurance-brokerage firm Holborn says insured losses from Superstorm Sandy could reach $30 billion.
Thus far the highest insured-loss estimate for the Sandy has been up to $25 billion, issued by catastrophe modeler Risk Management Solutions. The unique storm struck the southern coast of New Jersey late Oct. 29.
Despite its higher predicted insured-loss total, Holborn in a recent report on the storm says, "Supply and demand for reinsurance will not be directly affected by surplus changes as a result of Sandy, even though the Northeast is many reinsurers' peak exposure zone."
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