Hurricane Sandy costs insurers £9.3bn

Hurricane Sandy could cost property insurers up to£9.3bn according to initial estimates by catastrophe modelling firm AIR Worldwide. Another catastrophe modelling firm Eqecat have lowered their initial estimates to £3.1bn. However, the firm said that the wider economic losses could reach £6.21bn. In addition to the property damage costs,  business interruption claims will occur – […]

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