Hurricane Bob ranks as the second most expensive hurricane in U.S. history, but the path of the storm rather than its severity that made it so costly, insurance experts say.
The hurricane caused about $780 million damage to insured property during its sweep through the densely populated Northeast, an insurance group said."If this had occurred over the Sahara Desert, it would not have been such a significant event," said Gary Kerney, claims consultant with American Insurance Services Group Inc., a trade group that prepared the damage estimate.
The estimate was released Monday, one week after the hurricane hit New England, damaging buildings, boats and farmland, and knocking out power to more than 2 million utility customers. Crews worked Monday to restore power to the last several thousand people who were without electricity.