New York City's Mass Transit Authority is giving a loss estimate of $5 billion of which private insurers should kick-in more than $1 billion.
In a presentation at a board meeting dated Nov. 28 MTA officials say while it is "too early to have more than highly provisional estimates" the authority says it has infrastructure damage of $4.75 billion and operating loss, comprising lost revenue and increased operating costs, of $268 million.
It says losses are covered by a combination of insurance, federal programs including FEMA and MTA resources.
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