South Carolina's economic losses from the historic and deadly flooding will easily top $1 billion, experts say, but the looming issue for the state and federal government is that most of it will be uninsured. More than 2 feet of rain fell in some spots, prompting descriptions of a "1,000-year flood" - not because it historically happens that infrequently, but because the odds of it are so small that statistically it should only happen once a millennium. The problem is that almost all the damage can be clearly attributed to flood waters, in a state with nearly 2.2 million housing units and fewer than 200,000 flood insurance policies.