Chile earthquake insured losses could reach $8bn
Chile earthquake set to become most expensive insured event ever to hit Latin America with estimated losses of up to $8bn, claims Cooper Gay.
Stephen Jackson, MD Latin America, Cooper Gay, said current loss estimates range between $2bn to $8bn and if, as seems likely, the losses are between $3 - $5 billion then it will overtake Hurricane Wilma in 2005 as the most expensive insured event ever to hit Latin America.
Mr Jackson continued: “Hurricane Wilma was very specific to the Cancun region in Mexico and largely affected coastal, hospitality related properties. Chile on the other hand has been hit by an earthquake that covers a much
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