Tag: damage from sandy

AIR Worldwide Updates Loss Estimates for Post-Tropical Cyclone Sandy

Guest Author
Homeowners flood Insurance

BOSTON, Nov. 26, 2012 – Since Sandy made landfall as a post-tropical cyclone on October 29, 2012, in southern New Jersey, catastrophe modeling firm AIR Worldwide has been analyzing the storm’s characteristics and impacts. Informed by the latest available information on surge height and extent from the USGS, surface wind speed observation data, and findings from AIR’s post-disaster survey teams, AIR now estimates that insured losses from Sandy will be between USD 16 and USD 22 billion. AIR estimates include wind and storm surge damage to onshore residential, commercial and…

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AIR Worldwide Reports from Areas Affected by Sandy, Part III

Guest Author
Flood Insurance Hurricane Sandy Jersey Shore

This report is the third in a series from AIR’s recently concluded damage survey of areas impacted by Sandy, which made landfall on October 29, 2012, five miles southwest of Atlantic City, New Jersey. On November 11, 2012, AIR teams were deployed to survey damage in New York and New Jersey. The commentary in this report provide an initial glimpse into the kinds of damage patterns caused by this event in Staten Island, New York, and Toms River, Point Pleasant Beach, Sea Bright, Keyport, Union Beach, Keansburg, Kearny, Secaucus, Moonachie,…

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Homeowners insurance rates will likely rise in New York

H. Cutner
Hurricane Sandy Homeoweners Insurance New York

Following the destruction that the state has faced, experts feel that premiums will be headed skyward. Experts are now saying that well after the gas lines have been repaired and electricity has been fully restored, New Yorkers will continue to feel the pain felt from the massive superstorm Sandy as it sends their homeowners insurance premiums higher. Predictions have placed payments from private insurers between $10 and $20 billion for the storm. The damages from the winds, alone – not to mention the flooding – has placed this most recent…

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