AIR Estimates Insured Losses from Hurricane Jova at Less than $52 Million

Catastrophe modeling firm AIR Worldwide, estimates that insured losses caused by Hurricane Jova from flood-induced damage, as well as from some isolated wind damage along Mexico’s southern coastal areas, will be “less than MXN 700 million ($52 million),” assuming an exchange rate of 1 USD = 13.4 MXN. AIR noted that “after striking a sparsely populated stretch of Mexico’s Pacific coast on October 11 as a Category 2 hurricane, Jova weakened as it traveled inland towards the north, dissipating late last night over the state of Nayarit.