Overview of the Situation
Intense rainfall and flooding, primarily affecting Veracruz, Puebla, Hidalgo, San Luis Potosí, and Querétaro, resulted in a total of 4,008 insurance claims by October 24th, with estimated damages amounting to 1,206 million pesos, according to the Mexican Association of Insurance Institutions (AMIS).
Insurance Claims Breakdown
Of the 4,008 claims, 2,478 (62% of the total) were property damages valued at 995 million pesos. The remaining 1,530 claims (38%) were for vehicles, with policies exceeding 211 million pesos in total.
Most Affected States
The AMIS reported that Veracruz, Puebla, Hidalgo, San Luis Potosí, and Querétaro were the most affected by the low pressure system in the Gulf. These states have a home insurance coverage ranging from 15% to 35%, with Veracruz and Puebla, the most damaged, having the lowest insurance levels for homes.
Vehicle Insurance Coverage
Regarding vehicle insurance, the protection percentage for cars in San Luis Potosí, Veracruz, and Hidalgo is below the national average of 33%. However, Querétaro and Puebla stand out as the states with the highest percentage of insured vehicles, at 48% and 49%, respectively.
Insurance Company Response
In response to the damages caused by heavy rains and flooding, AMIS’s General Director, Norma Alicia Rosas, mentioned that insurance companies have relaxed administrative protocols to expedite the processing of vehicle claims.
Key Questions and Answers
- What is the total estimated damage from heavy rains and flooding? The estimated damage amounts to 1,206 million pesos.
- What types of insurance claims were reported? The majority of the 4,008 claims were for property damages (62%) and vehicle damages (38%).
- Which states were most affected by the low pressure system in the Gulf? Veracruz, Puebla, Hidalgo, San Luis Potosí, and Querétaro experienced the most significant impact.
- What is the average home insurance coverage in the affected states? Home insurance coverage ranges from 15% to 35% in these states, with Veracruz and Puebla having the lowest coverage.
- How does vehicle insurance coverage compare across the affected states? San Luis Potosí, Veracruz, and Hidalgo have below-average vehicle insurance coverage (33%), while Querétaro and Puebla lead with 48% and 49% of their vehicles insured, respectively.
- What measures have insurance companies taken in response to the damages? Insurance companies have relaxed administrative protocols to expedite vehicle claim processing.
