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Grace’s damage in Mexico, Caribbean pegged at about $330M

Hurricane Grace

Insured losses in Mexico and the Caribbean from Tropical Storm Grace will be approximately $330 million, according to an analysis released Thursday by Karen Clark & Co.

This estimate includes privately insured damage to residential, commercial and industrial properties. Grace was the first major hurricane to make landfall during this year’s North Atlantic hurricane season, according to the Boston-based catastrophe modeling company

Mexico, which had $300 million in estimated damage, saw two landfalls: near Tulum with 80 mph maximum sustained winds on Aug. 19 and near Tecolutla with maximum sustained winds of 125 mph on Aug. 21.

Grace made the first Mexico landfall along the Yucatan Peninsula as a Category 1 hurricane on Aug. 19 and then hit again Aug. 21 when it moved onshore in Veracruz with maximum intensity of 125 mph.

Central Mexico experienced significant damage, including structural damage to coastal structures from Category 3 wind speeds. The damage in the Yucatan Peninsula was less severe, consisting mainly of downed trees.

In addition to the high winds, Grace’s rain caused flooding in the states of Hidalgo, Puebla and Veracruz, washing out roadways, causing landslides and damaging some residential buildings.

In the Caribbean, which saw some $30 million in damages, Grace made landfall in Guadeloupe and Montserrat on Aug. 14 with 40 mph maximum sustained winds.

The storm then hit Haiti and the Dominican Republic on Aug. 16 with 35 mph maximum sustained winds, and Jamaica on Aug. 17 with 50 mph maximum sustained winds.

Due to the lower speeds, wind damage in the Caribbean was isolated to Jamaica and the Cayman Islands.