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“Sandy is still developing but we expect this to be a serious event likely to cost the industry at least several billion dollars. However, after what has been a mild loss year this far, we view that industry balance sheets, both primary and reinsurer, are braced to absorb the punch.” –Cliff Gallant, Managing Director, Keefe Bruyette & Woods

“One of the biggest storms of our lifetimes is unfolding right now.” –Kelly Cass, anchor, The Weather Channel

“This is the most catastrophic event that we have faced and been able to plan for in any of our lifetimes.” –Connecticut Gov. Dan Malloy

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