Sandy left a wide path of destruction in her wake when it slammed the U.S. North East. Although residents of the North Eastern United States had been hoping for the best, the hurricane insurance losses resulting from Sandy will likely hit the $5 billion mark and above. Insurers and others in the industry are already crunching the numbers from the “frankenstorm”. Even before beginning to perform these calculations, it was clear to the hurricane insurance industry that the numbers would run well into the billions. Fitch Rating, for example, said…
Read MoreHurricane insurance losses from mammoth storm reaches billions
