Costs for Otis exceed $2.125 million

Otis’ costs have been barely exceeded by the pandemic and by Hurricane Wilma in 2005. The insurance industry highlights that 72% of the damages that pay the most correspond to hydrometeorological events such as rains or hurricanes.

In the last two decades alone, the three most impactful hurricanes have generated costs of $6.5 billion for insurers.

Insurers such as HDI have reported that so far payments of more than 200 million pesos have been made for damages and cars.

The vessels, which have been one of the main affected after the incident, have registered a payment of 91% of the total value of the losses and damages.

Small and medium-sized businesses report 2,526 reports of damages with losses of 12,866 million pesos.

Mexico is one of the 10 countries with the highest catastrophic risk from natural phenomena, according to the United Nations (UN) and 45% of the territory is exposed to floods, according to the National Center for Disaster Prevention (Cenapred).

It is highlighted that the investment that Mexico makes as a percentage of GDP is only 3.2%, a figure below other countries such as Chile and Brazil.