Eqecat, which helps create computer models to calculate the risk from storms, estimated Sandy could cause $10 billion to $20 billion in total economic losses, and $5 billion to $10 billion in insurance claims. Irene was responsible for $4.3 billion in private insurance losses and hundreds of millions of dollars more in flood losses that are not typically covered by insurance companies. “These losses are potentially comparable but it’s too early to say,” according to Robert Hartwig, president of the Insurance Information Institute. “What we’re likely to see is a potentially large number of claims but relatively low severity. This storm is impacting a large area that’s densely populated but it’s not the kind of event that destroys structures completely.”
Unlimited access to BostonGlobe.com for only 99 cents for the first 4 weeks.Sign up
Are you a home delivery subscriber?
Get FREE access as part of your print subscriptionStart Here
Contact us for help