Hurricane Otis – Update 3

This is our third update relating to Hurricane Otis.

Marcelo Fazio, George Kramer and Jessica Feola have all been in Mexico at various points over the last few weeks.  Most of their meetings have been taking place in Mexico City because of the fact that food, water, gasoline, mobile service and electricity are almost non-existent in Acapulco. Most adjusters are staying in the town of Chilpancingo (which is about 110km inland from Acapulco, or 2 hours in the current driving conditions there, and 280km from Mexico City, or 3.5 to 4 hours drive).

We have received several instructions on various losses and our presence in Mexico will increase over the next few weeks. There has been devastating damage to hotels, supermarkets, high-end condos, shopping malls and the airport. Reports suggest that 80% of the hotels in the area have suffered damage.  However, we understand that only around 15% of losses in Acapulco are actually insured and there is little insurance penetration there, both commercially and residentially.

We also expect to see some event cancellation losses due to there being several stadiums and venues with scheduled events over the next few months.

Our 30+ Spanish speakers are ready and available to assist (the majority of which are located in the Americas).

For any more specific information please contact Daniel, Marcelo, George or Jessica using the contact information provided below.

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