After taking its time to consider the many variables it said would prevent a quick assessment, catastrophe-modeler Risk Management Solutions has finally released its estimate of insured losses due to Superstorm Sandy: between $20 billion and $25 billion.

RMS' estimate is slightly higher than those provided by other cat modelers and is more in line with the ballpark figure expected by insurance executives and experts who expressed concerns that previous estimates were unrealistically low. 

RMS' estimate was conveyed by a RenaissanceRe executive during a Nov. 14 conference call on Sandy's impact, hosted by Evercore Partners. During the call, Kevin J. O'Donnell—who was recently promoted to president in addition to his role as global chief underwriting officer—said RMS issued the guidance earlier that day.

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