Providing an accurate estimate of insured losses from Hurricane Sandy and its remnants is difficult because many important variables are yet to be calculated, with power-reconnection times expected to have a major effect, according to Risk Management Solutions. Insured losses from wind damage could amount to $12 billion, with most of the claims coming from New York and New Jersey, according to Karen Clark & Co. "The storm will not be a capital issue for most insurers," Adam Klauber of William Blair said in a statement, adding that the costs "will likely be limited to between one half to a full quarter worth of earnings."