Commercial Lines

Catastrophe modeling firm AIR Worldwide says Superstorm Sandy will cause between $7 billion and $15 billion in insured losses.

Hurricane Sandy is a storm with little precedent on the East Coast and is likely to trigger a significant volume of commercial-property claims, according to officials at insurance broker Willis North America.

Hurricane Sandy is a storm with little precedent on the East Coast and is likely to trigger a significant volume of commercial-property claims, according to officials at insurance broker Willis North America.

Risk Management Solutions says Sandy's impact on the East Coast is much more severe than last years Hurricane Irene. As emergency personnel, modelers and insurers assess the ultimate damage, some have connected the storm to hot topics such as federal risk-management strategies, insurers' disaster responses, and climate change.

U.S. stock trading will be closed on Monday and possibly Tuesday in response to Hurricane Sandy, NYSE Euronext said.

Two major earthquakes struck off the Western coast of Canada over the weekend, but the most powerful quake was expected to cause no significant insurance losses, one catastrophe modeler says.