Estimate of Storm Losses Grows

Catastrophe modeler Eqecat doubles estimate of insured losses from Sandy to up to $20 billion.

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

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

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