U.S. storms produce US$360 million loss

Storms that hit several U.S. states in early December caused US$360 million in insured damage, according to estimates from the Insurance Services Office (ISO). All in all, it has been a relatively high fourth quarter in terms of catastrophe losses, the ISO says. To date, cat 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 ISO predicts that insurers will receive more than 155,000 claims from home and business owners.

The ice storms fall on the heels of tornadoes and severe weather striking several U.S. states in early November. The ISO estimates that insurers will pay out US$460 million in damages for storms that swept from Pennsylvania to Louisiana on November 9 and 10. Hardest hit were Tennessee, with US$160 million in losses, Ohio with US$125 million, and Alabama with US$95 million.

The ISO says insurers have received 86,000 claims from the November storms, including both residential and commercial property damage. The storms, which included high winds and hail, claimed dozens of lives and caused hundreds of injuries. The U.S. National Weather Service says 68 tornadoes were reported between November 9 and 11, and 163 hailstorms.