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.
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