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Sandy Seen Lifting Insurance Prices

Commercial property insurers had begun raising rates in the Northeast prior to Sandy.

By Noah Buhayar | Updated on November 01, 2012

Sandy, the Atlantic superstorm that caused flooding, damage and blackouts throughout the U.S. Northeast this week, may lead to higher insurance rates and tighter terms in the affected areas.

Carriers that underwrite business property may be “pushing rate” in the aftermath of Sandy, said Al Tobin, managing principal of the property practice at Aon Risk Solutions, the insurance brokerage arm of London-based Aon Plc. Insurers and their commercial clients are still assessing damage.

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