NU Online News Service, March 6, 11:28 a.m.EST

The first estimate for the insured losses from last week'sseries of deadly tornadoes that ravaged the Midwest says claimpayments could go as high as $2 billion.

Catastrophe modeler EQECAT says the severe weather that formedtwo volatile weather systems during the period Feb. 28 to March 3produced an estimated $1 to $2 billion in insured losses.

The weather events include tornadoes, hail, and strong windsover an area that covered 12 states from the Deep South to asfar north as Ohio and Illinois, according to National WeatherService maps.

Most of the more than 150 tornadoes, a preliminary count,occurred in the states of Tennessee, Kentucky, Indiana, Illinoisand Alabama, says EQECAT.

The storm system caused a month's worth of tornadoes in just afew days, says the modeler.

“Tornado activity for the year is well above average with 272tornadoes versus the seven-year (2005-2011) average of 123 (throughMarch 4),” notes EQECAT.

EQECAT says an EF-4 tornado, with wind gusts of 166-200mph, destroyed 200 homes and business in Harrisburg, Ill.

According to the National Weather Service, there have been 49deaths from the tornado outbreaks so far this year and most tookplace in Indiana and Kentucky on March 2.

Adding insult to injury, snow blanketed Indiana and Kentucky onMonday, hampering clean-up efforts.

State Farm said yesterday that as of Saturday it received 6,300claims, 3,600 home claims and 2,700 auto claims.

January through March is a relatively quiet period in terms oftornado outbreaks. Historically, the most active period is Aprilthrough July. Last year proved a particularly active April with 758tornadoes.

The National Weather Service says the costliest tornado onrecord was the EF-5 that hit Joplin, Mo. on May 22, which cost anestimated $2.8 billion in damage. That twister claimed 116 livesand claims payments are estimated to reach $2billion.