1 April 2015 Insurance

PERILS releases updated database

PERILS, the Zurich-based organisation that provides catastrophe insurance data, has released the 2015 update of its industry exposure database.

For the first time, the database also contains property sums insured for Austria wind. Property sums insured exposed to Italy and UK flood and Italy earthquake have also been updated.

The database contains updated market-wide property sums insured for European windstorm for the following eleven countries: Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Norway, Sweden, Switzerland and the United Kingdom.

Luzi Hitz, chief executive officer (CEO) of PERILS, said: "As in previous years, the latest version of the PERILS IED is based on newly collected sums insured from insurance companies writing property business in the territories covered.

“This bottom-up approach ensures that the most current portfolio information is incorporated into the IED on an annual basis, and that changes and corrections in company sums insured are taken into account. Year-on-year movements are therefore driven as much by actual changes on the ground as they are by improvements in data capturing.”

Eduard Held, head of products at PERILS, added: "For the first time, the 2015 release of the PERILS IED contains market-wide windstorm sums insured for Austria. We are pleased to be able to announce this extension and would like to thank the Austrian insurance companies for their support in providing their data.

“The extension of our IED further demonstrates our continued commitment to expanding our market coverage and adding new perils and geographies where we have generated sufficient market support.”

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