A lot of so-called “minor” damage can sometimes result in a hefty price tag in the aggregate.
Superstorm Sandy's mammoth 500-mile span of sustained winds of at least 40 mph caused a good deal of low-severity direct wind damage, says Karen Clark & Co. (KCC)—enough for the firm to estimate insured wind losses due to Sandy at around $12 billion.
“The sheer number of claims adds up,” Karen Clark tells NU. “These claims have complexities, even though they're small.”
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