Eqecat doubles Sandy loss estimate

New range: $10B to $20B. More from Artemis:

Factors that influenced the rise in estimated losses include:

– The large electric and utility losses will trigger significantly more insured losses (business interruption) than were expected from a more typical category 1 storm
– The subway outage (and roadway tunnels) will be leading to higher expectations of loss amplification
– The continuation of discovery produces more remaining “unknowns” to produce better certainty in the losses

Posted from WordPress for Android

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