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Mexico Quakes Push Insurers Toward Higher Rates
Mexican earthquakes contribute to 1985 as the worst year for U S insurers with about 1.4 billion in disaster claims since January and Lloyds List placing Mexico City damages at 3 billion. Reinsurers pull back raising domestic quake premiums as underwriters face 50 percent to 100 percent hikes, most earthquake coverage sold in California led by State Farm.
MENTIONED IN THIS ARTICLE
Los Angeles
Mexico
United States
John McCann
Insurance Information Institute
Lloyd's List
Mexico City
U.S
Rene Gutierrez
Alexander & Alexander
California
State Farm Insurance Co