As the east coast braces for the impact of Hurricane Sandy, catastrophe risk modeling firm Eqecat issued this morning a preliminary estimate for potential economic and insured losses.
By comparison, the estimated economic damages for large-scale storms similar to Sandy were: Hurricane Irene at $10 billion, and Hurricane Ike in 2008, at $20 billion.
Eqecat said it will continue to provide updates as the storm continues.
Hurricane Sandy is expected to make landfall in Cape May County, N.J., later Monday, according to the National Hurricane Center.
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