Hurricane Odile, an expensive bill for insurers

Mexican insurance companies will not be spared by hurricane Odile. Insured losses are estimated at around 16.6 billion MXN (1.1 billion USD), a provisional bill that is poised to increase.

With 3 billion MXN (204 million USD) disbursed so far, the cost of Odile has already surpassed that of storms Manuel and Ingrid that were sustained in 2013.

Hurricane Odile last lashed the State of Baja California where the insurance penetration rate is one of the most important of Mexico. Nearly 90% of the hotels in this region are insured.

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