AIR Estimates Insured Losses Will Be Less than MXN 700 Million (USD 52 Million)

BOSTON, Oct. 13, 2011 — According to catastrophe modeling firm AIR Worldwide, after, striking a sparsely populated stretch of Mexico’s Pacific coast on October 11 as a Category 2 hurricane, Jova weakened as it traveled inland towards the north, dissipating late last night over the state of Nayarit. Because it was a small storm and weakened to tropical storm strength within 12 hours of landfall, damage from Jova’s winds has been limited. AIR estimates insured losses from flood-induced damage, as well as from some isolated wind damage along southern coastal…

Read More