An insurance industry group said the hailstorms and tornadoes that pummeled the South over the past two weeks have been declared catastrophes that could reach $50 million in insured losses.

Dave Dasgupta, a spokesman for Insurance Services Office in Jersey City, N.J., said that two storm periods–April 2-3 and April 6-8–have been listed as catastrophes, an incident that meets or exceeds $25 million in insured property loss. No loss figures are yet available.

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