Catastrophe modeling firm AIR Worldwide estimates that insured losses to onshore properties in Mexico from Hurricane Patricia will not exceed $200 million.
Damage from Patricia, the strongest hurricane ever measured in the Western Hemisphere, may cost the U.S. billions from floods, even after the storm spared the largest cities in Mexico.
Hurricane Patricia hit Mexicos west coast in an area between commercial centers and rapidly broke down into a tropical storm, sparing Latin Americas second-biggest economy from a feared catastrophe.
Hurricane Patricia, the strongest in the history of the Americas, prepared to barrel into Mexicos Pacific coast, sending guests fleeing hotels in the Puerto Vallarta resort area.