How Much Is Hurricane Sandy Going To Cost? Here's A First Estimate


Photo: AP

Dave Lutz of Stifel, Nicolaus passes along one quick summary of what Hurricane Sandy could cost:MUNI EXPOSURE? – Hurricane Sandy’s economic toll is poised to exceed $20 billion after the biggest Atlantic storm slammed into the Eastern U.S., damaging homes and offices and flooding subways in America’s most populated city – The total would include insured losses of about $7 billion to $8 billion, said Charles Watson, research and development director at Kinetic Analysis Corp., a hazard-research company in Silver Spring, Maryland. Much of the remaining tab will be picked up by cities and states to repair infrastructure, such as New York City’s subways and tunnels, he said.”I think it is disproportionate going into the public sector side”

This number will almost certainly evolve in the coming days, especially as the New York infrastructure damage is assessed.

For full Sandy coverage, see here >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.