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Post-Landfall Loss Estimates for Superstorm Sandy Released

01-Nov-12

Post-Landfall Loss Estimates - Hurricane Sandy - November 1, 2012

Post-Landfall Loss Estimates - Hurricane Sandy - November 1, 2012
Source: EQECAT, Inc.

EQECAT released post-landfall estimates based on latest observations for Superstorm Sandy. On 10/29/12, EQECAT issued its initial pre-landfall loss estimates for Hurricane Sandy.

EQECAT's post-landfall estimates are as follows:

  • Insured Losses: $10 - 20 Billion
  • Total Economic Damage: $30 - 50 Billion

A number of factors have influenced our revised estimates, including:

  • Large electric and utility losses will trigger significantly more insured losses (business interruption) than were expected from a more typical category 1 storm.

  • Subway outage (and roadway tunnels) will be leading to higher expectations of loss amplification.

  • Continuation of discovery produces more remaining "unknowns" to produce better certainty in the losses.

EQECAT wishes those affected by Hurricane Sandy a safe and steady recovery. EQECAT will continue to monitor this event and provide updates as appropriate.

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