Mexico takes out disaster insurance for over $400 million

On Friday, June 10, 2011, Mexico announced that it had purchased various forms of disaster insurance for more than $400, in order to gain some protection in the areas that face the greatest risk of natural disasters such as hurricanes. According to the Mexican finance ministry, the $404 million (4.8 billion pesos) of disaster insurance was purchased to “protect public infrastructure and homes in vulnerable areas.”  This decision came after last year where there were a staggering 19 major storms that struck Central America, leaving behind damage worth several hundreds…

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