AIR Worldwide now estimates Sandy insured losses up to $22 bln

Mon Nov 26, 2012 10:57am EST

Nov 26 (Reuters) - Disaster modeling company AIR Worldwide raised its estimate of insured losses from superstorm Sandy substantially, forecasting losses from $16 billion to $22 billion.

The firm's initial estimate, the day after the storm hit, had been for $7 billion to $15 billion in losses. AIR said on Monday that higher storm surge damage accounted for most of the change.

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