Catastrophe modeling firm AIR Worldwide says 'Superstorm' Sandy will cause between $7 billion and $15 billion in insured losses—possibly making the unprecedented storm the third-costliest in U.S. history.
The estimate includes wind and storm surge damage to residential, commercial and industrial properties and contents, as well as automobiles. Additionally, the estimate includes additional living expenses and business interruption. It also takes into account demand surge.
And the storm system that produced Sandy isn't finished producing damage as it moved inland into Pennsylvania and New York before it turns up to head to Canada.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
