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Growing Accord: Modelers’ Sandy Estimates Could be Misjudging Insured Losses

Australias QBE Insurance Group has joined a number of carriers who believe Superstorm Sandy could cause more insured losses than catastrophe modelers have predicted.

By Chad Hemenway | Updated on November 13, 2012

Australia’s QBE Insurance Group has joined a number of carriers who believe Superstorm Sandy could cause more insured losses than catastrophe modelers have predicted.

Modeler Eqecat has released two insured loss estimates for Sandy—one before it made landfall when it said losses would be up to $10 billion. Several days later, Eqecat doubled its initial loss estimate to up to $20 billion.

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