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Mexico renewed its 5 billion Mexican pesos ($248 million) traditional catastrophe insurance for 2023, indicating its intent to continue the use of private insurance and reinsurance capital for recovery and reconstruction after a natural disaster strikes, Artemis reported. There is a deductible in-force for the catastrophe insurance arrangement of roughly $13.5 million per-event and on an aggregate basis around $35 million per year, maximum.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms