Insurers Bruised, not Battered by Sandy
Cautioning final outcomes uncertain, insurers including AIG, Everest Re Group and PartnerRe continue to issue initial catastrophe loss estimates related to superstorm Sandy.
December 27, 2012
As the rubble settles along the U.S. Northeastern coastline devastated by superstorm Sandy, insurers continue to offer initial estimates of their losses. Sandy, a deadly 1,000-mile wide storm that took the lives of 132 people as it swept up the Northeastern seaboard in late October, is expected to cost insurers up to $25 billion in total losses. By these estimates Sandy is being classified as the second-costliest storm after hurricane Katrina in 2005.
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