Early damage estimates for Hurricane Sandy are starting to emerge
- $5-10B in insured losses are expected by Eqecat, a firm used by many in the insurance industry to estimate natural disaster exposure
- $10-20B in economic losses were also predicted, and the numbers are only expected to increase. Analysts don’t expect the numbers to seriously effect the insurance industries outside of an all but guaranteed drop in quarterly earnings. source
According to Keynesian economists, that’s $15 to $30 billion dollars in natural stimulus. Success! WE’RE ALL RICH AGAIN!