NU Online News Service, July 2, 11:20 a.m. EDT
Hurricane Alex is expected to have caused no more than $200 million in insured losses because insurance sales in Mexico are low and the area where the storm struck is not densely populated, according to risk modeler AIR Worldwide (AIR).
Alex made landfall on Thursday at Soto La Marina, Mexico, as a Category 2 hurricane with maximum sustained winds of about 105 mph. The town, more than 100 miles south of Borownsville, Texas, is "sparsely populated," AIR said.
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