Insured losses from Sandy could exceed $25B, analyst says

11/19/2012 | PropertyCasualty360

The damage that Hurricane Sandy and its remnants caused to New York City's transit system could help push overall insured losses beyond the $20 billion to $25 billion projected by Risk Management Solutions, said Meyer Shields of Stifel Nicolaus. Ninety percent of losses from the storm will come from New York and New Jersey, Shields said. The storm is not expected to change the rising trend in insurance rates and could lead to a modest increase in reinsurance prices, he said.

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