Insured damages from Sandy estimated as high as $20 billion


NEW YORK — Eqecat Inc. has issued post-landfall estimates for Superstorm Sandy, putting losses at between $10 billion and $20 billion, according to Business Insurance.

The catastrophe modeling firm also estimated the total economic damage from the storm to fall between $30 billion and $50 billion, the article stated.

According to the article, last Monday the firm was projecting insured losses of $5 billion and $10 billion, but revised estimates due to several factors.

“The large electric and utility losses will trigger significantly more business interruption claims than were expected from a more typical Category 1 storm. Likewise, the outage of New York City’s subway and roadway tunnels will lead to loss amplification,” said Eqecat.

Click here to read the article in its entirety.

Cleanfax Staff

Cleanfax provides cleaning and restoration professionals with information designed to help them manage and grow their businesses.

Follow Cleanfax Staff

Related Posts

Share This Article

Join Our Newsletter

Expert Videos

Popular Content

slow economy

5 Marketing Strategies for Carpet Cleaning Businesses in a Potential ‘Slow Economy (the “R” word)’

link building

The Power of Link Building for Your Cleaning Company’s Success

Cleanfax March/April 2023 digital

Cleanfax March/April 2023 Digital Edition Online Now

Leadership Tip passion over experience

Leadership Tips: Passion Over Experience 

Leadership Tip buyer persona

Leadership Tips: Developing a Buyer Persona


Have you ever been at fault for ruining something and then had to pay to replace it, such as a room of carpet or hard floor, an area rug, or piece of furniture?

View Results

Loading ... Loading ...

Upcoming Events

February 21, 2023

Simply Irresistible: How To Create Marketing Messages To Find New Customers