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Rho

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If we had inflated costs due to market stress after Northridge, then we
should expect to have the same market conditions after every similar quake
in the future.

The other thing to keep in mind is that California's buildings haven't had
a really serious test since 1906.  Meeting life safety in a Northridge
sized event is not the same as meeting life safety in say an Alaska 1964
sized event or a 1906 sized event.

Stan

> The end results was that home performed as expected based
> upon the life safety provisions in the code. The $20-billion in damages
was,
> in Jay's opinion, due to over-inflated claims, inflated-cost of repair
> during a particular supply and demand market - more so the abuses within
the
> system than an actual representation of the normal cost of repair.