NEWS FLASH

Economic Damage From Hurricane Sandy Could Total More Than $20 Billion | Early estimates for the damage from Hurricane Sandy, which slammed the East Coast last night, suggest that the storm’s damage could be as much as $20 billion to $45 billion. According to Bloomberg, less than half of that — $7 billion to $8 billion — would be covered by insurance. Instead, local and state governments would cover the rest for infrastructure repairs, such as damage to the New York City subway system.