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Allstate: more than $150M in losses due to Sandy

Associated Press

NORTHBROOK, Ill. -- Insurer Allstate said Thursday that catastrophe losses for October will total more than $150 million due to Superstorm Sandy.

The storm, which struck in late October, damaged homes, shorelines and left millions without power along the East Coast.

Allstate said that it will have a more specific catastrophe loss figure once losses from Sandy can be estimated.

A spokesman for Gov. Dannel P. Malloy said Thursday that the cost of damage to Connecticut businesses and homes by Superstorm Sandy is $360 million and climbing.

Shares of Allstate Corp., which is based in Northbrook, Ill., shed 14 cents to $38.20 in afternoon trading.

Copyright:(c) 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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