billion for property damages caused by Hurricane Floyd last week, less than originally expected, an industry trade group said.

"Insured property damage was not as devastating as initially feared,'' said Insurance Services Office Inc.

The hurricane swept along the US East Coast, causing massive flooding in several states, especially North Carolina.

"Much of the damage was from heavy rainfall, not from powerful winds,'' the office's property claim services unit said in a statement.

"More than 503,000 claims are expected to be filed with insurers,'' it said.

Five states led the roster in insured damages to personal and commercial property, as well as vehicles, it said. North Carolina was first with $835 million, followed by New Jersey with $84 million, Virginia with $65 million, and Florida and South Carolina with $50 million each, it said.