AIR Worldwide raises estimate of insured losses from Sandy

11/26/2012 | Reuters · Reuters

AIR Worldwide says insured losses from Hurricane Sandy and its remnants could range from $16 billion to $22 billion, up from its initial estimate of $7 billion to $15 billion. AIR raised its estimate to account for damage caused by storm surge. Property Claims Service has estimated insured losses from the storm at $11 billion, indicating that investors in the catastrophe-bond market may be shielded from losses, experts said.

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Reuters · Reuters

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