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KCC estimates insured losses from storm Grace at $330m

Insured losses from tropical storm Grace earlier this month are pegged at about $330m, according to initial estimates from Karen Clark & Company (KCC).

Mexico felt the brunt of the storm with insured losses estimated at $300m, and $30m in the Caribbean.

KCC said Grace was the first major hurricane to make landfall during the north Atlantic hurricane season, having made two landfalls in Mexico at hurricane strength, causing damage to onshore properties with winds of up to 125mph.

Grace also made landfall in Guadeloupe, Montserrat, Haiti, the Dominican Republic and Jamaica, although KCC said low-level wind damage in the Caribbean was isolated to Jamaica and the Cayman Islands.

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