Insured losses from Mexico quake not expected to exceed US$1.2bn
Written by staff reporter
RMS predicts that economic shake losses resulting from the 19th September Puebla earthquake will be between US$4bn and US$8bn. This is based on current building damage information from the Mexican authorities. RMS has also analysed 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 US$1.2bn. 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.