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italimex

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Mexico City Waiting on the Big One

Mexico City is waiting for the next big Earthquake and if you will recall the 8.5 Earthquake in 1985 you can certainly understand why. Over 20,000 people had died there, some say it was white washed and many more perished during and after the big quake. Indeed most World Seismologist believe that Mexico City is in for another big quake and they say way over do; even more so than the San Francisco Bay Area.

What is Mexico City doing about it? Well they are floating a bond for 160 million for disaster clean up, rescue and relief. On top of that they have bought an insurance policy, which goes from the 160 million to 450 million from some re-insurers. The Bond is interesting and it is somewhat based on Taiwan

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