Mexico quake insured losses estimated at $200M: KCC

Insured losses from a Sept. 7 earthquake in Mexico are estimated close to $200 million, according to an analysis Monday from Boston-based catastrophe modeler Karen Clark & Co.

Total losses, for insured and uninsured residential, commercial and industrial buildings, are estimated to be around $900 million, KCC said.

There have been reports of power outages affecting as many as a million customers or more including scattered outages in Mexico City. Major structural damage, however, has not been reported, although there have been reports of collapsed masonry walls.

“Impacts are expected to be moderate with instances of structural damage to hotels and other buildings, and significant damage is likely to be restricted to vulnerable structures, such as unreinforced masonry buildings,” KCC said.

The magnitude 7.0 earthquake hit Sept. 7 around 8:47 p.m. local time near Acapulco City, Mexico. It occurred on a subduction zone where the Cocos and North America plates converge, KCC said.

In this region, the Cocos Plate subducts, or is pulled beneath, the North America Plate along the Middle America Trench. Historically, eight magnitude 7.0 and greater and five magnitude 8.0 and greater events have been recorded along the subduction zone since 1907.

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