Catastrophe modeling firm AIR Worldwide says 'Superstorm' Sandy will cause between $7 billion and $15 billion in insured losses—possibly making the unprecedented storm the third costliest in U.S. history.
The estimate includes wind and storm surge damage to residential, commercial and industrial properties and contents, as well as automobiles. Additionally, the estimate includes additional living expenses and business interruption. It also takes into account demand surge.
And the storm system that produced Sandy isn't finished producing damage as it moved inland into Pennsylvania and New York before it turns up to head to Canada.
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