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Insurance: Mexican Shake-up

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Heavy losses from hurricane-related payments are expected to lead to a shake-up in Latin America's second largest insurance sector.

BY RONALD BUCHANAN

MEXICO CITY —  As they sipped their cocos locos on the sun-kissed beaches of Cancun last week, thousands of foreign and Mexican tourists were the unwitting beneficiaries of improved regulation in Mexicos insurance  market.

Thanks to prompt payouts by insurers, Cancun recovered in record time from the ravages of hurricane Wilma, Latin Americas most expensive catastrophe to date which also caused major losses in the US. By late last year, almost all...

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