Insured Losses From Hurricane Sandy $7-$15 Billion: AIR Worldwide

Catastrophe modeling firm AIR Worldwide estimated Tuesday evening that insured losses from Hurricane Sandy to onshore properties in the U.S. would be in the range of $7 billion to $15 billion. AIR’s insured loss estimate includes wind and storm surge damage to onshore residential, commercial and industrial properties and their contents, automobiles, and time element coverage (additional living expenses for residential properties and business interruption for commercial properties).