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New estimates of storm damage from Sandy

Storm may be one of costliest disasters in U.S. history

NEW YORK, N.Y. – The financial cost of Superstorm Sandy will be staggering, according to new predictions from experts.

The disaster modeling company, Eqecat, says the storm caused $20 billion in insured losses, and $50 billion in economic losses.

It's one of the costliest catastrophes in U.S. history, behind Hurrican Katrina, the September 11th terror attacks, and Hurricane Andrew back in 1992.

Meanwhile, businesses are trying to help the victims of the massive storm.

Target is donating half-a-million dollars in relief efforts to the Red Cross and the Salvation Army.

It's also offering $25,000 in gift cards at local Target stores for victims of the storm.

Kohl's is joining in too by donating a million dollars to relief efforts.