Mexico quake insurance losses could top $2 billion

Insured losses from the magnitude 7.1 earthquake that struck central Mexico Sept. 19 will be between $700 million and $2 billion, according to catastrophe modeling firm AIR Worldwide.

The figures include damage from ground shaking and are based on assumptions about take-up rates in Mexico, about which there is “considerable uncertainty,” the Boston-based catastrophe modeler said in its statement late Friday, adding that total economic losses are expected to be much higher than industry insured loss estimates.

Source: Business Insurance