Boston-based AIR Worldwide, the catastrophe risk modeling firm, said insured losses from Hurricane Norbert, which hit Mexico over the weekend, should be minimal.
The firm said that since both the storm's landfalls were along sparsely populated rural areas, with only a small percentage of properties carrying insurance, AIR “does not expect significant insured losses.”
Norbert landed Friday on Mexico's Baja California Peninsula, and by Saturday morning had crossed the Baja to its Southwest coast near Puerto Charley as a Category 2 hurricane with maximum sustained winds at landfall of 105 miles per hour.
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