Two years ago today Superstorm Sandy hit the shores of the East Coast, changing residents’ lives and making a big impact on the insurance industry. The storm surge that resulted from Sandy destroyed homes along the Jersey Shore and Long Island; flooded lower Manhattan and major transportation hub Hoboken, disrupting public transportation for months; knocked out power for days for most residents across the area; and erroded beaches along the entire coast, as far down south as South Carolina.

Superstorm Sandy caused $18.75 billion in property losses across 15 states and Washington D.C., excluding flood insurance claims covered by FEMA, according to the Insurance Information Institute (I.I.I.) and ISO’s Property Claim Services (PCS). New Jersey and New York suffered the largest losses, with $9.65 billion and 6.3 billion accrued respectively. So far, Sandy is the third most costly hurricane in U.S. history by insured losses.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.