Latinnews Daily - 22 September 2017

* Luis Alvarez, the director of the association of Mexican insurers (Amis), has said that the country’s insurance firms have a collective US$56bn to cover claims related to damages caused by the major earthquake that affected Mexico City on 19 September. Alvarez said that neither insurers nor the authorities currently have any solid estimates of the value of the material damage produced by the earthquake as the evaluation of these was still underway. However, Alvarez noted that the last time that a major earthquake affected Mexico City in 1985, insurers had to pay out US$2.5bn in claims and that the level of funds available to insurers to handle claims this time around should be “sufficient”. 

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