Insurance news from AIG predicts $2 billion in Sandy losses

AIG Insurance company CEO - Building in Manhattan

The superstorm has taken its toll on the states and insurers are starting to release their numbers. AIG has announced that it expects to have lost $2 billion in pre-tax costs due to superstorm Sandy’s impact on the United States. This was revealed at the same time that it said it would be making a $5 billion sale of its aircraft leasing business. The storm, which smashed its way across the American Northeast coast led to more than 100 deaths and made insurance news with its vast amounts of property…

Read More

Auto insurance estimates for damage from Sandy reach 230,000 vehicles

Homeowners flood Insurance

The NICB has released its preliminary estimates from the superstorm, showing most is in NY. The National Insurance Crime Bureau has now revealed its preliminary auto insurance estimates for vehicles that were damaged when Sandy came crashing through. The NICB believes that there were around 230,000 vehicles affected by the storm. The auto insurance estimates have indicated that of that total, around 130,000 are located in the state of New York, while another 60,000 are in New Jersey. The remaining 40,000 vehicles in that total are from Maine, Washington D.C.,…

Read More