INSURANCE

Insured Losses May Set Record: Winter weather has caused about $2 billion in damage to insured property, putting the first quarter of 1996 on a possible record pace for weather-related losses. Property Claim Services, a firm that tracks insurance losses, said severe weather had caused $1.995 billion in damage to insured property so far this year. Although that is still behind the first quarter of 1993, when severe weather resulted in a total of $2.285 billion in damage, that record could be in jeopardy with five more weeks to go in the quarter, PCS said. The company said this winter’s losses stemmed from six events, including a major blizzard in the Northeast in early January and a deep freeze that gripped much of the nation in late January and early this month.