Karen Clark & Company (KCC), independent experts in catastrophe risk, catastrophe models and catastrophe risk management, today issued a report in conjunction with the one-year anniversary of Superstorm Sandy. The report examines the unique aspects of the storm, the Northeast's vulnerability to coastal flooding and how future storms could be worse than Sandy. The report also reviews the legacy of the storm and its impact on insurers and coastal communities.
The full report is available at www.karenclarkandco.com.
Sandy came ashore near Atlantic City on a path nearly perpendicular to the New Jersey coastline on October 29, 2012. At landfall, the storm was characterized by the National Hurricane Center as a post-tropical cyclone with hurricane-force winds. Tropical storm force winds stretched nearly 1,000 miles across the circulation. Due to Sandy's immense size and unusual northwesterly track, high winds extended throughout the Mid-Atlantic and Northeast. The winds caused damage well inland along with power outages and disruptions to transportation and communications. The greatest impact, however, was along the coast, with severe damage caused by flooding from Sandy's extensive storm surge, which measured 14 feet in some areas. Total losses for the storm are estimated at $65 billion, with the insured portion just under $20 billion.
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