CoreLogic Estimates Hurricane Beryl’s Insurable Losses in Jamaica, Cayman Islands, and Mexico Under $2 Billion

CoreLogic® estimates that Hurricane Beryl’s insurable losses across Jamaica, the Cayman Islands, and Mexico’s Yucatan Peninsula are under $2 billion. The storm, which peaked as a Category 5 hurricane, caused significant damage as it passed through these regions. In Jamaica and the Cayman Islands, insurable losses are estimated between $400 million and $700 million, while losses in Mexico are also less than $1 billion.

Hurricane Beryl set records as the earliest Category 5 storm in the Atlantic, with winds reaching up to 165 mph. It caused substantial wind damage to residential, commercial, industrial, and agricultural properties, though the most populated areas like Kingston were spared the worst impact. In Mexico, the storm made landfall near Tulum with winds of 110 mph, causing damage but remaining within the insurable loss estimates.

Despite the intense winds and potential for storm surge, the damage was contained, and no major urban centers faced the brunt of the storm. CoreLogic’s risk models are available for further analysis to quantify the impacts. The ongoing active hurricane season continues to challenge forecasts and preparedness efforts.