Not all insurance companies will get through the aftermath of Hurricane Sandy equally, Bernstein insurance analyst Josh Stirling said Tuesday on CNBC.
(Read More: Which Insurance Stocks Could Take a Hit: Pros)
Looking to 2013 and 2014, Stirling noted, "Allstate controls its own distribution, so they can push their pricing as much as they want.
"It's a very investible story."
With damage estimates for the insurance industry ranging from $4 billion to $10 billion, investors might be scared off, Stirling said, although the losses might not end up being as bad as feared.
"This is probably going to be an opportunity," he said. "The facts coming in basically provides a floor under the stock."
Rosecliff Capital's Mike Murphy said he wasn't buying.
"I wouldn't be jumping in for the insurers just yet," he said, adding that he would reconsider "if they sell off."
Trader disclosure: On Oct. 30, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Jon Najarian is long ALL Puts; Jon Najarian is long DAL Puts; Mike Murphy is long HTZ;
For Josh Stirling
Josh Stirling maintains a long position in Scottish Re Group Ltd. (SKRUF) and Ram Holdings Ltd. (RAMR). The following companies are or during the past twelve (12) months were clients of Bernstein, which provided non-investment banking securities related services and received compensation for such services AIG / American International Group; An affiliate of Bernstein received compensation for non-investment banking-securities related services from the following companies AIG / American International Group; In the past twelve (12) months, Bernstein or an affiliate managed or co-managed a public offering of securities of AIG / American International Group; In the next three (3) months, Bernstein or an affiliate expects to receive or intends to seek compensation for investment banking services from PGR / Progressive, AIG / American International Group.
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