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Tuesday, Oct 302012, 3:42 AMHurricane Sandy is still wreaking havoc over the Eastern Seaboard, but that's not stopped insurance experts from estimating how much it will cost. AIG (AIG) CEO Robert Benmosche says, "It will be Irene, plus or minus something," for his company, so a few hundred million. Disaster-research firm Kinetic Analysis and Eqecat estimate total economic damage of around $20B, including $5B-$10B of insured losses. |Tuesday, Oct 302012, 3:42 AM| 3 Comments
Monday, Oct 292012, 3:08 AMWith Hurricane Sandy making its way to the Eastern Seaboard, insurers such as Allstate (ALL) are preparing to send their rapid-response teams of claims specialists to assess the damage once the storm passes. The cost to insurers is likely to be less than it would have been in the past, as they've been raising home-insurance rates, tightening underwriting standards, and scaling back sales of policies in hurricane-prone areas. |Monday, Oct 292012, 3:08 AM| 2 Comments
Sunday, Oct 282012, 2:38 AMHurricane Sandy is projected to make landfall by Tuesday morning, after which it could combine with two winter weather systems and create a super "Frankenstorm." Experts warn that the damage could be greater than the $15B worth caused by Hurricane Irene last year. Hardware stores such as Home Depot (HD) are doing a brisk trade as people stock up on essentials, but oil refineries and insurers will probably get hit hard. |Sunday, Oct 282012, 2:38 AM| 3 Comments
Thursday, Oct 252012, 3:57 PM
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