
Mexico renews natural disaster coverage

Mexico's government has completed the renewal process for its catastrophe insurance policy, which is tied to federal natural disaster fund Fonden,
The policy, from rural reinsurer Agroasemex, will offer coverage up to 5bn pesos (US$261mn) through July 5, 2019.
Besides shielding public finances, the finance ministry said in a statement that the coverage will protect public infrastructure against geological and meteorological events as well as forest fires.
Public infrastructure that is covered include schools, roads, water facilities, hospitals and low-income housing, and the risks include earthquakes and hurricanes of any magnitude, as well as floods, volcanic eruption and severe rainfall.
The ministry said the coverage was achieved "at favorable cost to the federal government, with a premium below the average of placements made in the period 2013-2018."
Mexico is a pioneer in the development of this type of coverage. In 2006, it purchased the world's first sovereign catastrophe policy, with a three-year term and coverage of US$450mn.
Fonden's natural disaster coverage was utilized extensively last year with 26 declarations of natural disaster emergencies, which were particularly acute with the earthquakes of September 7 and 19, and the 2017 coverage amount reached 2.78bn pesos.
Mexico has this year stepped up its protection from major natural disasters. In February, it launched a joint US$1.36bn catastrophe bond with its Pacific Alliance trading group partners, Colombia, Chile and Peru, in what the World Bank declared as "the largest sovereign risk hedging operation and the second largest issue in the history of the catastrophic bond market."
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Water & Waste (Mexico)

US$300mn works to expand US-Mexico wastewater treatment plant to begin in 2024
After the planned expansion the plant – that will attempt to solve issues shared by Tijuana and San Diego – will be able to treat 2,191l/s.

Tesla focuses on water needs around planned Monterrey gigafactory
The US EV producer obtained permits to use treated wastewater in its production processes.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Water & Waste (Mexico)
Get critical information about thousands of Water & Waste projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Paso Ancho Dam
- Current stage:
- Updated:
2 days ago
- Project: Milpillas reservoir
- Current stage:
- Updated:
2 days ago
- Project: Tunal II Dam
- Current stage:
- Updated:
3 days ago
- Project: Solís - León Aqueduct
- Current stage:
- Updated:
3 days ago
- Project: Durango Water Treatment Plant
- Current stage:
- Updated:
3 days ago
- Project: Desalination plant in San Quintin (San Quintin integrated water system)
- Current stage:
- Updated:
5 days ago
- Project: Los Cabos desalination plant, Baja California Sur (Cabo San Lucas desalination plant)
- Current stage:
- Updated:
5 days ago
- Project: Chicoasén II hydro
- Current stage:
- Updated:
2 weeks ago
- Project: Waste Derived Fuel Plant in Mérida (CDR Pellets)
- Current stage:
- Updated:
3 weeks ago
- Project: Modernization of the Ángel Albino Corzo hydroelectric plant (Peñitas)
- Current stage:
- Updated:
3 weeks ago
Other companies in: Water & Waste (Mexico)
Get critical information about thousands of Water & Waste companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Fro Ingenieros, S.A. de C.V.
- Company: Construcciones y Prefabricados Laguna S.A. de C.V.  (Construcciones y Prefabricados Laguna - COPRELASA)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Mitsui & Co. Infrastructure Solutions  (Mitinfra)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: AMG River Desasolves S.A. de C.V. - Grupo Inmobiliario Tlahtoani S.A. de C.V.  (AMG River Desasolves - Grupo Inmobiliario Tlahtoani)
-
AMG River Desasolves SA de CV - Grupo Inmobiliario Tlahtoani SA de CV is a company formed by AMG River Desasolves SA de CV and Grupo Inmobiliario Tlahtoani SA de CV for the exec...
- Company: Comisión de Agua y Alcantarillado de Sistemas Intermunicipales  (CAASIM)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Ciclo Corporativo - Alengo - Spontem
-
Cyclo Corporative - Alengo - Spontem is a partnership formed by Alengo LATAM S.A. de C.V., Cyclo Corporative S.A. de C.V. and Spontem for the execution of the Merida Waste Deriv...
- Company: Alengo LATAM S.A. de C.V.  (Alengo LATAM)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Spontem
- Company: Ciclo Corporativo S.A. de C.V.  (Ciclo Corporativo)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...