RMS Expects Insured Losses from Mexico Earthquake Will Not Exceed US$ 1.2 Billion
LONDON, U.K. -
September 25, 2017 -
Following the Puebla Earthquake which hit Central Mexico on September 19, 2017, RMS has made preliminary estimates of losses.
Economic shake losses will be between US$4 billion and $8 billion. This is based on current building damage information from the Mexican authorities. RMS has also analyzed data on ground motion, and examined how property exposures are distributed across the region.
Because of low insurance penetration rates across Mexico, particularly in residential lines, RMS expects that insured losses will not exceed $1.2 billion. This estimate accounts for shake-only insured losses to structures, contents and business interruption including the effects of liquefaction and landsliding. Post-event loss amplification is not expected to be a significant factor in these losses.
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