A financial analyst says losses from Superstorm Sandycould be even higher than Risk Management Solutions' $20 billion to$25 billion estimate once infrastructure losses are factoredin.

Meyer Shields with Stifel Nicolaus cites damage to New YorkCity's transit system as a loss that could drive the ultimate totalhigher than current estimates.

Vincent M. DeAugustino, an associate analyst for StifelNicolaus, says that the assessment that the transit system lossescould make storm losses higher comes from the transit system'sexperience with Hurricane Irene last year. He says MTA losses wereshared between FEMA and private insurers, pirmarily AmericanInternational Group and Lloyd's. He says the assumption is that thesame would be expected with Sandy.

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