Risk Management Solutions says storm Sandy's impact on the East Coast is “much more severe” than last year's Hurricane Irene, and the catastrophe modeler expects insured losses from Sandy to eclipse the $4.5 billion in losses from Irene.
Modeler Eqecat said yesterday that it expected damage from Sandy to be comparable to Irene, and released an initial insured-loss estimate of $5 billion.
And as emergency personnel, modelers and insurers move to assess the ultimate damage from Sandy, some interests have connected the storm to hot topics such as federal risk-management strategies, insurers' disaster responses, and climate change.
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