Hurricanes could cause 1.7 bln USD of damage in Mexico

• Source: Xinhua
• [08:12 July 10 2009]
• Comments

Hurricanes might cause as much as 1.7 billion US dollars of damage in Mexico this year, Romero Iglesias, director of Mexican insurer Axa Seguros, told media on Wednesday.

"We expect that if there is a hit, in the worst case scenario, that is the sum the industry will have to pay clients," Iglesias said, adding that the estimate was based on the damage caused by Hurricane Wilma in 2005, which cost the industry 2.2 billion dollars.

Mexico's National Meteorological Service is forecasting 23 such weather systems during this year's hurricane season, which will end in November. In the Pacific, there will be six tropical storms, four small hurricanes and two serious hurricanes. The Atlantic would have the same number and type of hurricanes, but one less tropical storm.