December 19, 2002 by Canadian Underwriter
Storms that hit several U.S. states in early December have caused US$360 million in insured damage, according to estimates from the Property Claims Services (PCS) unit of the Insurance Services Office (ISO).
All in all, it has been a relatively high fourth quarter in terms of losses, the ISO says. To date, losses stand at US$1.3 billion.
North Carolina was hardest hit by the latest storm, which dumped snow and ice on five states on December 4 and 5. North Carolina’s insured losses stand at US$230 million, followed by South Carolina at US$60 million, New York at US$40 million, Pennsylvania at US$20 million and Virginia at US$10 million.
The PCS is predicting insurers will receive more than 155,000 claims from home and business owners.