NEW YORK (

TheStreet

) -- It looks as though U.S. insurers have lucked out yet again. Hurricane Richard was downgraded from a Category 1 hurricane to a tropical storm as it passed over northern Guatemala Monday morning.

Richard made landfall Sunday south of Belize City in Central America and is expected to continue into southeastern Mexico and the southern Gulf of Mexico by late Monday or early Tuesday, according to the

U.S. National Hurricane Center .

So far this hurricane season property/casualty insurers have made off without substantial losses. The North Atlantic hurricane season ends in November and if insurers such as

Allstate

(ALL) - Get Report

and

Travelers

(TRV) - Get Report

steer clear of extensive storm damage claims, they could use the capital to make acquisitions or buybacks next year.

To see where the storms have hit this season and which insurers were affected the most check out our

interactive Hurricane Map.

--Written by Maria Woehr in New York.

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