Sixth Named Storm in Atlantic Basin Leaves 13 Dead

In case you missed it, the sixth named storm of the Atlantic Hurricane season is history, lasting less than 24 hours after forming off the coast of Mexico, but flooding from heavy rains left 13 dead.

Tropical Storm Fernand formed 25 miles east of Veracruz, Mexico, Sunday afternoon over the Western Bay of Campeche with maximum sustained winds of 45 mph.  The storm brought heavy rains to Eastern Mexico on Monday and dissipated over Mexico by the late afternoon.

The National Hurricane Center said rainfall over Veracruz and the surrounding area would amount to as much as 8 inches with isolated maximum amounts of close to 15 inches. Officials warned the rains could cause flash floods and mudslides.

Sadly, the worst fears came true. NBC News reported Fernand caused 13 deaths across Mexico from heavy rains.

While Mexico is primed for insurance growth, penetration remains low. Lloyd’s says Mexico is worth $20 billion in premium, but that represents only 2 percent of GDP. Insurance losses will amount to insignificant, but that will be of little comfort to the families whose loved ones were lost.