Live Insurance News

Mexico insurance industry expected to handle the impact of Hurricane Patricia

October 29, 2015October 28, 2015 Logan B.

A.M. Best provides some insight into Mexico’s insurance industry A.M. Best, a rating agency based in the United States, has issued a comment concerning Mexico’s insurance industry and how it may be impacted by Hurricane Patricia. The powerful storm formed alarmingly quickly in the Pacific ocean and was the strongest hurricane ever recorded, with sustained winds recorded in excess of 200 miles-per-hour. While the storm dissipated quickly once making landfall, there are still serious concerns regarding flooding and the damage that heavy rainfall has caused. Insurers are expected to be…

Flooding from Hurricane Patricia in Texas could bring billions in claims

October 28, 2015October 26, 2015 Julie Campbell

The strongest storm of its nature ever to hit the Western Hemisphere is also bringing flooding back to the state. Even though the storm didn’t cause the type of catastrophe that may have been expected from Hurricane Patricia, the worst storm of that nature that has ever been seen by the Western Hemisphere, this doesn’t mean that it won’t be leaving devastation in its trail now that it has been downgraded to a tropical depression. The largest cities in Mexico may have been spared but Texas could see billions of…

Hurricane Patricia may not have been as much of a disaster as predicted

October 26, 2015October 25, 2015 Julie Campbell

Despite the fact that it was the most powerful storm ever seen by the Western Hemisphere, it was not the most damaging. The first reports about Hurricane Patricia that were released over the weekend after the storm made landfall on the west coast of Mexico indicated that there had not been any major damage and that there had not been any deaths. The early reports were cautiously optimistic that the broad efforts to evacuate affected areas saved lives. Even though Hurricane Patricia was the most powerful storm of that nature…