Catastrophe modeler Eqecat has updated its insured-loss estimatefor Superstorm Sandy—and if the firm is correct, the storm will beknown as one of the five costliest U.S. hurricanes.

Eqecat says insured losses will total $10 billion to $20billion, which could make Sandy the third costliest U.S. storm everfor insurers—behind only 2005's Katrina ($46.6 billion) and 1992'sAndrew ($22.9 billion).

Any actual insured loss within Eqecat's new range would alsomake Sandy one of the Top 20 global natural catastrophes since1970.

Total economic damage from Sandy will be in the range of$30 billion to $50 billion, Eqecat says.

The latest estimate doubles Eqecat's pre-landfall insured-lossestimate from Sandy of between $5 billion and $10 billion, withtotal economic losses of $10 billion and $20 billion.

The firm says power outages are expected to “triggersignificantly more insured losses (business interruption) than wereexpected from a more typical Category 1 storm,” and the shut-downof the subway and tunnels in New York City will lead to higherexpectations of loss amplification.

Catastrophe modeling firm AIR Worldwide says “Superstorm” Sandywill cause between $7 billion and $15 billion in insuredlosses.

The estimate includes wind and storm-surge damage toresidential, commercial and industrial properties and contents, aswell as automobiles. Additionally, the estimate includes additionalliving expenses and business interruption. It also takes intoaccount demand surge.