PCS raises Sandy estimate to $18.75B

This is a fairly important development, as Property Claim Services’ estimates drive recoveries in the cat bond market. Also important: The new estimate is about $7B higher than the old one, and it syncs better with estimates from the hurricane modelers.

As our friends at Artemis point out, a number of insurance-linked securities have triggers in the $20B to $25B range.

Artemis also has a thorough listing of Sandy losses by insurer, and the site points out that the sum of insurer reports is very close to the PCS estimate.


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