PERILS Releases Industry Exposure Database 2020, Now Including Australia Motor

PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data, has released its Industry Exposure Database 2020.

The database contains up-to-date information about property sums insured and the number of risks exposed to natural perils in Australia, Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, New Zealand, Norway, Sweden, Switzerland, Turkey and the United Kingdom.

For the first time, the database also includes a detailed industry exposure portfolio for the motor line of business in Australia, said PERILS, noting that the IED 2020 for Canada will be released by the PERILS subsidiary CatIQ in June this year.

The PERILS IED 2020 has been produced from the ground-up and is based on sums insured information received from over 150 national insurance carriers, explained PERILS. These represent over two-thirds of the insurance market across all territories covered by PERILS. The market sums insured are available by CRESTA zone, line of business and coverage type. The in-force date of the exposure data is Jan. 1, 2020. Information about prevailing coverage conditions are also provided.

In total, the PERILS IED includes detailed information on US$78 trillion of natural perils exposed sums insured. These represent approximately 236 million property and motor policies generating a premium volume of approximately US$108 billion. The largest exposure in the database is European windstorm, with 186 million individual risks representing €59.8 trillion (US$64.8 trillion) of insured property values. This represents an increase of 4.1% in euro terms (2.9% at constant FX rates) compared to Jan. 1, 2019. Year-on-year variations in Australia, New Zealand, Italy and Turkey all showed robust sums insured growth ranging from 5% to 20%.

“This marks the 11th annual release of the PERILS IED and as always we are extremely grateful to those companies which provide us with their data,” said Luzi Hitz, CEO of PERILS.

“Each year, we produce the market portfolios based on the cat-exposed sums insured data provided by insurers in each country and by calculating the market sums insured based on that data. Moving forward, we will continue to seek out opportunities to expand our coverage to cover other important cat markets,” he added.

“The availability of high-quality market exposure and loss data based on identical sources and methodology is much valued by users of our database,” commented Eduard Held, head of Products at PERILS.

“Having both available in a consistent format not only supports a range of model validation activities but also facilitates more effective risk transfer. While PERILS loss data are used for the trigger of insurance-linked securities and ILW [industry loss warranties] transactions, the exposure data enables users to define custom-made triggers resulting in reduced basis risk for protection buyers,” Held continued.

Source: PERILS

Topics USA Australia