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Major quakes fail to cause significant losses for insurers

Posted On: Oct. 3, 2022 9:36 AM CST

According to U.S.-based A.M. Best Co. Inc., the 7.7-magnitude and 6.9-magnitude earthquakes that struck Mexico on Sept. 19 and Sept. 22, respectively, did not generate insured losses large enough to have any significant impact on the insurers, Reinsurance News reported. The earthquakes caused some minor damage to buildings near the epicenter and a few casualties, yet states with low insurance penetration faced the greatest impact.