Insured losses from an earthquake on September 7 in Mexico are estimated at nearly $ 200 million, according to an analysis Monday from Boston-based disaster model Karen Clark & Co.
Total losses for insured and uninsured homes, commercial and industrial buildings, are estimated at about $ 900 million, KCC said.
Power outages affecting as many as one million customers or more have been reported, including scattered outages in Mexico City. However, major structural damage has not been reported, although collapsed masonry walls have been reported.
"The effects are expected to be moderate with cases of structural damage to hotels and other buildings, and significant damage is likely to be limited to vulnerable structures, such as unreinforced brick buildings," the KCC said.
The 7.0 magnitude earthquake struck on September 7 at 20:47 local time near Acapulco City, Mexico. It occurred in a subduction zone where the Cocos and North American plates converge, KCC said.
In this region, Cocos Plate subducts or draws under the North American plate along the Central American tomb. Historically, eight magnitudes 7.0 and larger and five magnitudes 8.0 and larger events have been recorded along the subduction zone since 1907.