AIR Estimates Mexico Insured Losses from Karl at $102-$206 Million

According to catastrophe modeling firm AIR Worldwide, Hurricane Karl, which made its second landfall in Mexico last Friday as a Category 3 storm on the Saffir-Simpson Wind Scale, has caused several rivers and canals to overflow, inundating large portions of the state of Veracruz. AIR estimated that "insured losses from this event are in the range of 1,300 million Mexican Pesos ($102 million to 2,600 million Mexican Pesos ($206 million)".