Catastrophe insurance data provider PERILS has announced the release of an updated version of its industry exposure database.
The PERILS Industry Exposure Database 2020 (IED) contains up-to-date information about property sums insured and the number of risks exposed to natural perils across a range of countries.
For the first time, the database also includes a detailed industry exposure portfolio for the motor line of business in Australia.
In total, the PERILS IED incudes information on $78 trillion of natural perils exposed sums insured, representing approximately 236 million property and motor policies generating a premium volume of approximately $108 billion.
The largest exposure in the database is European windstorm, with 186 million individual risks representing €59.8 trillion of insured property values.
“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,” Hitz added. “Moving forward, we will continue to seek out opportunities to expand our coverage to cover other important Cat markets.”
Eduard Held, Head of Products at PERILS, also commented: “The availability of high-quality market exposure and loss data based on identical sources and methodology is much valued by users of our database. 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 insurancelinked securities and ILW transactions, the exposure data enables users to define custom-made triggers resulting in reduced basis risk for protection buyers.”
Darryl Pidcock, Head of PERILS Asia-Pacific, further stated: “This update marks the first time that motor exposure and loss data are made available in the Australian market. As motor is a major Cat-exposed line of business in this market, today’s announcement is a natural expansion of PERILS coverage to meet the needs of our subscribers. We are particularly grateful to our insurance partners who have been extremely supportive in sharing their data.”
