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.

Despite the high winds recorded from Superstorm Sandy, actual wind damage from the storm was surprisingly minor, a report from reinsurance broker Willis Re says.

XL Group's chief executive says Superstorm Sandy will not be a capital event for the insurance industry, but he does think it will change the industry's perception of risk.

The National Flood Insurance Program will likely need to go to Congress for additional borrowing authority to pay claims from Superstorm Sandy, insurance industry officials say.