How Much Will Sandy Cost?

Hurricane Sandy appears to have easily caused more losses than last year's Hurricane Irene, but final totals will be hard to come by for some time because of the scale of the disaster, catastrophe forecasting companies told HuffPo on Tuesday.

RMS, one of the three primary firms used by the insurance industry to calculate disaster exposures, indicated that Sandy should outdo the roughly $4.5 billion in insured losses Irene caused after hitting the northeast in August 2011.

"Sandy event is much more severe ... and has impacted NYC to a much worse degree than Irene," RMS said in a storm report early Tuesday.  Its assessment follows that of peer Eqecat, which said late Monday that Sandy was likely to cause anywhere from $5 billion to $10 billion in insured losses and from $10 billion to $20 billion in economic losses…..

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