Not safe. Any water that gets into contact with drywall creates mold. Even if you dry and suck the water. Insurance probably scammed you and years later you'll have to redo you basement due to mold. I would have said no thanks and gutted the basement. This happened to a friend and the same thing except it was a different company and about 5 years later mold showed up. Insurance wasn't liable for covering the mold issue because it was dealt with the next day by a company that did the exact same thing. Believe what you want. Your basement is going to get moldy.