Mexico Quake: Insured Losses Under $100M
The insured losses from yesterday’s [Mar.20] earthquake in Mexico are expected to be less than $100 million, according to catastrophe modelling firm EQECAT.
CNN reports that, “Mexican officials were assessing damage Wednesday, a day after a strong earthquake left homes in ruins and rattled residents hundreds of miles away.
“At least 11 people were injured in the 7.4-magnitude quake, which hit mid-day Tuesday in southern Mexico. Its epicenter was about 15 miles (25 kilometers) east of Ometepec, Guerrero.”
“A M7.4 earthquake occurred 300 km south of Mexico City on March 20, at a moderate depth of 20 km,” said a statement from EQECAT.
“This earthquake, widely felt throughout Mexico, was initially reported as M7.8. EQECAT estimates insured losses from this earthquake to be less than $100 million USD.”
