Hurricane Jova insured losses in Mexico less than $52M
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BOSTON—Hurricane Jova caused less than $52 million in insured losses to Mexico, catastrophe modeler AIR Worldwide Corp. said Thursday.
The storm made landfall on Tuesday in what AIR called a “sparsely populated stretch of Mexico's Pacific coast” and weakened as it traveled inland.
“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,” said AIR in its analysis. “AIR estimates insured losses from flood-induced damage, as well as from some isolated wind damage along southern coastal areas, to be less than 700 million” Mexican pesos ($52 million).
