Hurricane Sandy may cost up to US$25 bln
Source: Asia Insurance Review | Dec 2012
Hurricane Sandy may cost the insurance industry up to US$25 billion, according to the latest estimate at press time from Risk Management Solutions Inc. Earlier, AIR Worldwide, a leading catastrophe modelling firm, had put the estimate at between US$7 billion and $15 billion while EQECAT, another leading catastrophe modelling firm, had estimated $10-20 billion in insured losses and $30-50 billion in total economic damage.
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