An insurance industry trade group said insured losses from the Oklahoma ice storm could reach $35 million.

The devastating winter storm hit several states in the Midwest on Dec. 8, 2007, and caused widespread power outages, many of which have yet to return to full operation. President Bush declared parts of Oklahoma, Missouri, and Kansas as disaster areas, allowing the Federal Emergency Management Agency (FEMA) to provide immediate and direct federal assistance.

"Insurance claims from ice damage are often slow in coming in, which prompts us to conservatively predict damage at this point the claim filing process," said Jerry Johns, president of Southwestern Insurance Information Service, an industry trade group responsible for Oklahoma and Texas. "Most of the damage will be to homes and business property with a smattering of vehicle claims resulting from traffic accidents."

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