Hurricane damage could cost as much as $20 billion
"Sandy is a large storm, impacting 20% of the US population"
Damage from the massive Hurricane Sandy battering the US East Coast could hit as much as $20 billion, disaster estimator Eqecat said.
Eqecat said total damage costs could run from $10 billion to $20 billion, with insured damage of $5-10 billion.
“Sandy is a large storm, impacting 20% of the US population,” Tom Larsen, senior vice-president, said in a statement.
That put the projected damages of Sandy, which has shut down public and business activity on much of the region from North Carolina to Massachusetts, more in line with Hurricane Ike in 2008, and larger than Hurricane Irene of 2011, which caused some $10 billion in damage.