Northeastern hurricane could devastate region, economy

07/31/2006 | CBS News

Hurricane experts and insurance industry risk analysts say a strong hurricane hitting the northeast would cause property and business losses greater than those from Katrina or the Sept. 11 terror attacks. At a meeting this month, experts estimated a Category 3 or stronger hurricane hitting New York and New Jersey could cause $200 billion in losses. "The risk is increasing every year," risk analyst Karen Clark said. "It will be the largest financial disaster that this country has ever seen."

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