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Sandy on track to be second-largest flood loss ever

Date: 02-Nov-12
Country: USA
Author: Ben Berkowitz

Sandy on track to be second-largest flood loss ever Photo: Gil Cohen Magen
Citizens clean damaged and flooded streets in the borough of Queens in New York October 30, 2012 in the aftermath of the storm Sandy.
Photo: Gil Cohen Magen

The superstorm Sandy will likely end up as the second-largest insured flood loss in U.S. history, behind only Hurricane Katrina, a top executive of a leading flood insurance provider said on Thursday.

Patty Templeton-Jones, the chief operating officer of Wright Flood, said the U.S. Federal Emergency Management Agency is expecting claims on at least 80,000 flood insurance policies after Sandy. Wright is the largest private provider of policies guaranteed by FEMA's National Flood Insurance Program.

(Reporting by Ben Berkowitz; Editing by Gary Hill)

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