New Estimate for Economic Damage from Storm: $50B

By: Associated Press Email
By: Associated Press Email

The total economic damage from Superstorm Sandy could run as high as $50 billion, according to new estimates from the forecasting firm Eqecat. The new numbers are more than double the firm's previous estimate.

Eqecat said Thursday that its new estimate for economic losses is between $30 billion and $50 billion. The cost to insurance companies could run from $10 billion to $20 billion.

Widespread electric outages will likely push the costs higher than in a typical Category 1 storm, Eqecat said. The lack of subway service in New York City and blocked roadways also led the firm to raise its damage estimate.

Before the storm hit, Eqecat estimated that the total economic losses could range as high as $20 billion and that insured losses could reach $10 billion.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, Trolling or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@kbtx.com. Please provide detailed information.

powered by Disqus
KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-188
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 176789741