Claims News Service Jan. 8, 2007 11:52 a.m. EST- Safeco reportedapproximately $30 million in pretax catastrophe losses due to thepacific northwest windstorm that ran through the Puget Sound areaduring the holiday season.
The company estimated the storm losses based on property value,knowledge of severity and reporting patterns from past storms,damage projections based on wind speed, and anticipated costs for asurge in demand for goods and labor to complete repairs.
Prolonged power outages in the Puget Sound area causedpolicyholders to delay making claims. The company reported thatmembers of its National Catastrophe Team are still on site to aidin the recovery efforts.
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