The woman who created the catastrophe modeling industryestimates insured wind losses due to Superstorm Sandy will be $12billion.
Karen Clark, who in 2007 founded Karen Clark & Co. afterstarting what is now AIR Worldwide in the mid-1980s, says New Yorkwas hit by the strongest sustained winds from Sandy. Wind gustspeaked at between 70 mph and 80 mph in places like JFK Airport andLong Island, N.Y.
According to Karen Clark & Co.'s RiskInsight product—whichallows insurers and reinsurers to estimate company-specificlosses—there were no recorded sustained hurricane-force winds inNew Jersey but because winds are not measured in all areas, it'spossible that the New Jersey coast did experience winds of thisstrength. A large majority of claims can be expected from New Yorkand New Jersey.
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