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JERSEY CITY, N.J.--The Insurance Services Office Inc.'s Property Claim Services unit has declared last week's Florida tornadoes a catastrophe.
The designation means that tornadoes caused at least $25 million in insured property damage and will affect a significant number of policyholders and insurers. A spokeswoman said that Jersey City, N.J.-based PCS probably will have a more definitive estimate in a few days.
On Feb. 3, the White House declared portions of central Florida a disaster area, making them eligible for federal aid.