Insurance regulators in New Jersey and New York — the two states hit hard by Superstorm Sandy — reported today that insurers have settled 93 percent of the claims received in the wake of Sandy, according to the Insurance Information Institute (I.I.I.).

The I.I.I. said insurers would pay an estimated $18.8 billion in claims to their policyholders, making Sandy the third-costliest storm in U.S. history, as defined by insurance claims payouts.

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