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Fri September 14, 2012
Citizens receives over 13,000 claims from Isaac
Louisiana's property insurer of last resort says Hurricane Isaac has resulted in over 13,000 claims and they expect more to come.
Vice President and Chief Claims Officer of Louisiana Citizens Property Insurance Corp. Quin Netzel said Thursday most claims average a little over $5,000. He said they're expecting between 15,000 and 17,000 claims as a result of Isaac and so far 36 percent of received claims have been inspected, while 4 percent of claims have been closed.
Netzel says a high percentage of claims will likely be less than their hurricane deductible, which is 2 and 5 percent of damage incurred during a storm.
He says claims processing has been slowed by unrepaired damage from previous storms, and about 25 percent of the claims require additional review for prior damage.