Louisiana Citizens Property Insurance Corp. says it has settled85 percent of the more than 17,000 claims it received fromHurricane Isaac, the fastest it has settled so many claims after asignificant loss event in its history, the insurer says.

The state's insurer of last resort says it received 17,059claims from Hurricane Isaac and 97 percent of those claims havebeen inspected.

Loss payments through the second week of October totaled $57.8million, Citizens says. It expects the ultimate loss and adjustmentexpense from Isaac to reach $75 million to $100 million.

Citizens says that it will be able to manage the storm'sfinancial impact through current cash reserves and reinsurance thatcovers the losses in excess of $75 million.

Citizens says that its “quick response was due to enhancedcapabilities instituted by the company.”

“Since hurricanes Katrina and Gustav, we have significantlyenhanced our catastrophe claims adjusting capabilities,” says QuinNetzel, chief claims officer for Louisiana Citizens in a statement.“As a result, we have been able to respond to claims from HurricaneIsaac faster than at any time in our history.”

Louisiana Citizens says it utilized a network of more than 400adjusters. Claims have generally been inspected within seven daysof the report date and closed within 25 days, the carrier says.

“Adjusters are working 7 a.m. to 7 p.m. for seven days a week tohandle all the claims,” says Netzel.

The most common claim was for wind damage to exterior roofingand corresponding interior water leakage. The carrier saysthat 40 percent of the claims have been closed because the damagewas less than the special two percent or five percent hurricanedeductibles.

Hurricane Isaac struck on Aug. 28 as a Category 1 storm causingflooding and power outages around New Orleans, but unlike Hurricane Katrina, did not causethe widespread flooding in the city.

In comparison to Katrina, Isaac's losses were expected to be minor as modelers put thefigure at no more than $2 billion.