25 September 2017News

RMS issues Mexico earthquake estimate

Catastrophe modelling company RMS has announced that it expects insured losses from the Puebla earthquake in Mexico on September 19, 2017 will not exceed $1.2 billion.

According to RMS, economic shake losses will be between $4 billion and $8 billion. 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 $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.