Louisiana Citizens: More than 13,000 Claims from Isaac so Far
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 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.
- Texas Storms Leave 800,000 Without Power While Flights Grounded
- Swiss Re to Withdraw From Digital Insurer iptiQ, Reports Strong Q1 Net Income of $1.1B
- Popular SC Country Music Venue Shuts Down Due to Liquor Liability Insurance Costs
- Auto Insurance Shopping ‘Hot,’ Consumers Switching ‘Sizzling’: LexisNexis