Severe winter storms in the eastern US this month have generated insured losses of more than $US2 billion ($2.23 billion) in total, according to preliminary estimates by risk management firm Eqecat.

It says storms over the past two weeks will each exceed $US1 billion ($1.12 billion), based on an assessment of the overall scale of these storms and their snow, ice and wind impacts relative to major prior events in the last two decades.

Eqecat Vice President David Smith says the average annual $US2 billion ($2.23 billion) insured loss for winter storms in the US is a fraction of the average $US10 billion ($11.2 billion) bill and the most recent events are not the biggest on record.

“If we go back to 1993, what was called the ‘storm of the century’ was a $US1.75 billion ($1.95 billion) insured loss,” he told US media. “Projecting that forward to now, we’d be looking at something like doubling that.”

Among the most common sources of losses are damage to roofs and pipes, and “ice dams” where build-ups of ice on roofs along overhangs cause water to leak into buildings.