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RMS: Sandy Insured Losses Could Reach $25b

The whole debate over hurricane deductibles leaves a bad taste in my mouth ... I don't mind suffering my share of the losses but I don't like the idea of losses being higher than what policyholders paid for simply because the political climate demands it. Sandy was obviously a hurricane and hurricane deductibles should apply ... if not, look for the industry to change the language of future policies to not refer to "hurricanes" but to specified levels of wind and landfall.

I think it is possible to be against retroactive changes to deductibles while also having sympathy for the victims of the disaster but political factors make it hard for anyone to publicly make that argument.
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