Updated Wednesday, October 22, 2014 as of 8:54 PM ET

Hurricane Sandy Update: Almost $88 Billion at Risk, Insurers Ready Claims Assistance

According to the National Hurricane Center 06:00 UTC advisory today, the center of Hurricane Sandy was located approximately 280 miles east of Cape Hatteras, North Carolina and 425 miles south-southeast of New York City. Sandy is currently a weak Category 1 hurricane with maximum sustained winds of 75 mph.

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