Two insurers connected to Zurich Insurance reported they received over 7,500 claims by the end of last week from the storm that ripped through the Northwest region.
Jerry Davies, director of media relations for Farmers Insurance, said that Farmers and Foremost Insurance–as of Friday–received approximately 7,500 claims combined in Oregon and Washington.
Both Farmers and Foremost are subsidiaries of Zurich Insurance, which is the second largest carrier in the two states behind State Farm, according to National Underwriter's Highline Data Service.
The Dec. 14 storm caused widespread damage from falling trees. Days of rain loosened the root system of many towering trees. The trees were easily torn up when hurricane-force winds of close to 100 mph tore through the region.
Estimates from the storm have put insurance losses at close to $500 million and Jersey City, N.J-based Insurance Services Office's property claim services has already declared the event a catastrophe. A catastrophe is declared in an event of $25 million or more in insurance losses affecting a significant number of policyholders and insurers.
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