Insurers Now Face Up To $25B In Hurricane Sandy Losses

Law360, New York (November 14, 2012, 10:04 PM EST) -- Estimates by a California-based risk modeling firm have placed insurer losses from Hurricane Sandy to more than double that of some initial projections to as high as $25 billion, according to news reports Wednesday.

Risk Management Solutions projected that insurers may face losses between $20 billion and $25 billion, according to a Wall Street Journal report. Initial estimates on property and casualty claims from the hurricane by Fitch Ratings were roughly $5 billion, similar to that of last year's Hurricane Irene, while disaster modeling agency Eqecat...
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