PERILS Issues Updated Industry Exposure Database for Australia, Europe & Turkey

April 11, 2018

PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data, has released a 2018 update of its Industry Exposure Database (IED).

The updated country IEDs have again been produced from scratch, based on exposure information received from more than 100 national and international insurance companies, which represent over 65 percent of the property market in the territories covered, PERILS said in a statement.

The database contains updated property sums insured and number of risks exposed to natural perils in Australia, Europe (Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Sweden, Switzerland and the United Kingdom) and Turkey, said the comany.

The in-force date of the exposure data is Jan. 1, 2018, said the company, noting that information about prevailing deductibles and limits also has been updated.

The biggest exposure in the industry database is European windstorm, with some 190 million individual risks representing €55 trillion (US$67.9 trillion) of insured property values, said PERILS. Compared to Jan. 1, 2017, the overall European windstorm sums insured increased in euros by 2.1 percent while in U.S. dollars the increase was 16.5 percent (+3.8 percent at constant FX rates).

Year-on-year variations in Australia, Italy and Turkey ranged from +7.4 percent to +17.0 percent. The year-on-year developments in all territories were mainly driven by movements in collected sums insured data and movements in market benchmarks.

“Our bottom-up approach ensures that the most current portfolio information is incorporated into the IED, and that changes and corrections in company sums insured are taken into account on an annual basis,” said Luzi Hitz, CEO of PERILS.

“The ever-expanding coverage and increasing quality of the data provided is helping create a more accurate picture of the industry exposures. This is only possible due to the continued efforts and commitment of our data-providing companies and we once again extend our gratitude to them,” he added.

“As we continue to update the exposure data sets, combined with loss and hazard intensity data from a current total of 30 events, we are helping the insurance industry gain a better understanding of the underlying risks exposed to natural catastrophes,” said Eduard Held, head of Products at PERILS.

“Our data supports a broad range of activities, including market share analysis, natural catastrophe model validation, and the structuring and risk assessment of risk transfer products such as cat bonds and industry loss warranty transactions,” he continued.

Source: PERILS

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