Irene causes up to $400 million in insured damage in Carolinas: EQECAT

Hurricane Irene caused between $200 million and $400 million in insured losses in the Carolinas, catastrophe modeling company EQECAT said Sunday, suggesting the storm may have been far less severe than the insurance industry feared. EQECAT said the bulk of the losses came from North Carolina, citing the effects of the storm surge and flooding in particular.