PERILS: Updated Database Includes USD 57.6 Trillion in European Windstorn Exposures

5 April 2017 — Daniela GHETU
The biggest exposure in the updated PERILS Industry Exposure Database (IED) is European Windstorm, with some EUR 54 trillion of insured property values, -0.4% as compared to 1 January 2016.

The independent Zurich-based company providing industry-wide catastrophe insurance data, has announced the release of the 2017 update of the PERILS Industry Exposure Database (IED), composed of more than 200'000 individual data entries defining 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. The in-force date of the exposure data is 1 January 2017.

Information about prevailing deductibles and limits has also been updated.

The updates for 2017 have again been produced from scratch using a bottom-up data collection process. They are based on exposure information newly collected from insurance companies representing more than 65% of the property market in the territories covered.

Year-on-year variations in Australia, Italy and Turkey range from +2% to +24%.

The year-on-year developments in all territories are mainly driven by movements in collected sums insured data and movements in market benchmarks.

Luzi HITZ, CEO of PERILS, commented: "I am very pleased that the data collection over the last few months has again gone smoothly, which has enabled us to produce the update of the PERILS Industry Exposure Database on time. I would like to thank all data-providing insurance companies for their support. Without their collaboration, we would not be able to produce consistent, high-quality market data which serves to improve the understanding and tradability of natural catastrophe risk."

Eduard HELD, Head of Products at PERILS, added: "In addition to exposure information, the PERILS database contains loss data from a growing number of natural catastrophe events. By combining exposure data with loss and hazard data, we can supporta broad spectrum of applications, ranging from market share analysis to the validation of natural catastrophe models. The exposure and loss data is also used for the structuring and risk assessment of industry loss based risk transfer products such as Cat bonds and industry loss warranty transactions."

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