Fwd: Mexico Insurance Alert: Radical Change to Mexico Liability Laws/E&O Exposure

[doncoulter]

Thanks for posting this, Kasugie. But I'm having trouble with the math.

The letter says that the limit for a fatality "has been increased by the Mexican Government to 5,000 days multiplied by the local Mexico minimum wage (up to approximately $300,000 US Dollars total damages, depending on the Mexican State)." The minimum wage, of course, varies in different parts of the country; I don't recall what it is in our zone, but it's highest in Zone A, at about 65 pesos per day. Multiple that by 5,000 days and you get 325,000 pesos. At the current exchange rate of about 12.6 pesos per dollar, that's equal to about US$25,800--far below the quoted figure of US$300,000.

I must be missing something here. But what?

Don