Damage from the first 2002-2003 winter storm ripping through the Carolinas could reach as high as $120 million, as about 64,000 claims are received, bringing the fourth-quarter catastrophe total near $1 billion, the costliest fourth quarter in at least three years.
In North Carolina, estimates are for losses exceeding $113 million, coming from 60,300 claims, according to the North Carolina Insurance News Service.
In South Carolina, which was not as heavily hit by the storm, losses are approximately $4.5 million from about 3,300 claims, according to the South Carolina Insurance News Service.
Losses from the December storm, combined with other weather-related losses in the fourth quarter, bring the total catastrophe losses to near $1 billion for the quarter, according to Dave Dasgupta, a spokesman for Insurance Services Office Inc.
