The insurer Zurich estimated damage caused by Sandy at 700 million USD

The losses net of reinsurance triggered by Hurricane Sandy are estimated at 700 million USD for Zurich Insurance Group. The company specializing in the analysis of natural catastrophes AIR Worldwide estimates that the overall insured losses are comprised between 16 and 22 billion USD. For its competitor Eqecat, insured damages could attain between 10 and 20 billion USD while economic losses would range from 30 to 50 billion USD.
The hurricane that lashed the northeastern area of the United States in late October is set to become the second most devastating hurricane in the history of the country after Katrina.

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