Two snowstorms that hit the United States this month will cause insured damages in excess of $2 billion, according to a catastrophe risk modeling firm.

Oakland, Calif.-based EQECAT said the loss estimate is based on a preliminary assessment of the overall scale of the two storms relative to major prior events in the last two decades.

Meanwhile, Gary Kerney, assistant vice president of Property Claim Services–a unit of the Insurance Services Office Inc. in Jersey City, N.J.–said he expects PCS to have official loss estimates for the storms sometime this week.

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