Catastrophe modeling firm Risk Management Solutions’ insured loss estimate for Sandy is in the range of $20 billion to $25 billion, according to a recent report from The Wall Street Journal.
RMS has not yet published an estimate publicly as of Nov. 27, but the firm has been offering its $20-$25 billion estimate figure to its corporate clients, according to the report. RMS declined Insurance Journal‘s request to confirm the reported figure.
The $20-$25 billion estimate is higher than the figures from two other major catastrophe modeling firms. AIR Worldwide’s latest insured loss estimate range, published on Nov. 26, is between $16 billion to $22 billion.
Meanwhile, Eqecat’s revised estimate range is between $10 billion and $20 billion.
At the high end of catastrophe modeling firms’ estimates, Sandy would rank as the second-costliest storm in U.S. history after Hurricane Katrina.
Was this article valuable?
Here are more articles you may enjoy.
Don’t Look Now, But Citizens Is No Longer the Largest Property Insurer in Florida 
‘Catastrophic’ Hack Underscores Public Defender Security Gaps 
Insurers Begin Restricting Privacy Coverage in Response to Evolving Risk 
Florida Appeals Court Reverses $200M Jury Verdict in Maya Kowalski Case From This Issue
