Sandy could hit Swiss insurers hard
- Published: 29 Oct 2012 at 20.01
- Online news:
ZURICH -- Hurricane Sandy, which is set to wreak havoc on the East Coast of the United States, could be costly for Swiss insurers which have covered the highly developed, densely populated area, analysts said on Monday.
"Even as it approaches, Sandy has provoked some disruption to the economy via precautionary measures" taken to protect the population, noted analysts at the Zurich Cantonal Bank (ZKB).
In New York, one of the world's leading stock markets will be closed on Monday and possibly on Tuesday as well, market operator NYSE Euronext has said, the first time trading has been cancelled since the Sept 11, 2001 terror attacks.
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