New Jersey Manufacturers Insurance Company says it will take a loss of more than $300 million from Superstorm Sandy, the largest loss in the company's history.
In a statement yesterday, the West Trenton, N.J.-based mutual insurer says it has received more than 52,000 Sandy-related claims to date.
The figure is four times what it suffered from last year's Tropical Storm Irene, which cost $75 million and was the “largest claims event in the company's 99-year history.”
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
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
