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perils
Claims from Eastern Australia floods reach $5.28bn
30th August 2022
The Insurance Council of Australia (ICA) has estimated that $5.28 billion is the cost of this year’s floods across South-East Queensland and northern New South Wales. Severe flooding impacted these states around six months ago; induced by an extended period of heavy rainfall in February and March. A monsoon trough along the ... Read the full article
PERILS launches exposure and event loss data service in Japan
22nd June 2022
Catastrophe loss aggregator PERILS has announced that it has extended its market coverage to include exposure and event loss data for the perils of wind and flood in Japan. The new service covers the Japanese non-life market and is supported by the majority of the insurance companies operating in the sector. The ... Read the full article
PERILS revises industry loss estimate for Eastern Australia flooding
9th June 2022
PERILS says that its industry loss estimate for the Eastern Australia floods earlier this year now stands at AUD $4,895m. It said that in line with its event definition, the loss number covers the property and motor hull lines of business. Earlier estimates of the cost had placed it at ... Read the full article
PERILS updates Euro windstorm losses to €3,610m
20th May 2022
PERILS has estimated that the European windstorm series over Britain and Europe in February caused a loss to the insured property market of €3,610m up from its March estimate of €3,289m. The windstorm series consisted of three storms named Ylenia, Zeynep, and Antonia by the Free University of Berlin, and Dudley, ... Read the full article
PERILS lowers insured loss estimate for southern Australia storms to AUD 1.016bn
13th May 2022
PERILS, the catastrophe loss aggregator, has released its third and lowest insured loss estimate for the southern Australian severe storms which occurred in late October 2021, of AUD 1.016 billion. Back in January, PERILS released its second estimate which reaffirmed its first loss report, pegging the insurance industry loss from ... Read the full article
PERILS reports $85trn of sums insured exposed to natural perils in 2022
21st April 2022
Catastrophe loss aggregator PERILS has released its Industry Exposure Database (IED) 2022, reporting $85 trillion of sums insured exposed to natural perils. The report shows that the largest exposure in the database is European windstorm, with €64.8 trillion of insured values as of 1 January 2022 which represents year-on-year growth of ... Read the full article
PERILS issues final AU$688mn insured loss estimate for 2021 Australia floods
25th March 2022
Catastrophe insurance data provider PERILS has released its fourth and final industry loss estimate of AUD 688 million, for the New South Wales and Queensland floods which occurred during the period of March 18–24 2021. This final figure sees PERILS’ estimate decrease from AUD 751 million, issued on 24 September, ... Read the full article
Insured losses from Storm Nadia estimated at €272m
16th March 2022
Independent catastrophe risk modeller PERILS has released its first loss estimate for the insurance industry from the European windstorm Nadia (Malik) currently settling on a figure around €272 million. The estimate is based on claims data that was collected from the majority of the affected insurance companies. Storm Nadia took place from ... Read the full article
PERILS affirms loss estimate of AUD$1.028bn for Australia storms
31st January 2022
PERILS has looked again at the loss arising from the Southern Australia Severe Storms of last October and issued a second estimate that pegs them at AUS $1.028bn. The organisation said it had based this figure on loss data collected from the majority of the Australian insurance market and includes losses ... Read the full article
PERILS reports loss estimate of AUD$1.028bn for Australia storms
10th December 2021
Independent provider of industry-wide catastrophe insurance data PERILS has disclosed its initial industry loss estimate for the Southern Australian storms which occurred during the period of 28 to 30 October 2021. PERILS’ initial estimate of the insured market loss, based on loss data collected from the majority of the Australian insurance ... Read the full article
Insured loss from storm Hendrik-Ignatz (Aurore) seen at €311m by PERILS
2nd December 2021
Storm Hendrik-Ignatz, also known as storm Aurore, which impacted parts of north-western and central Europe from October 20th to 21st, is expected to drive insurance industry losses of €311 million, according to an initial estimate by PERILS. Storm Aurore was driven by an unusually strong jet stream for mid-October with wind ... Read the full article
AU$394mn industry hit from Cyclone Seroja, says PERILS
12th October 2021
Independent provider of industry-wide catastrophe insurance data PERILS has today released an industry loss footprint for Tropical Cyclone Seroja that totals AU$394 million. This compares to the figure of $434 million issued by PERILS three months after the event. While the industry loss resulting from Tropical Cyclone Seroja remains below the PERILS ... Read the full article
Over-reserving sees PERILS drop Australia flood loss estimate to AU$751mn
24th September 2021
Catastrophe insurance data provider PERILS has cited over-reserving as the sole driver behind its significantly lower industry loss estimate from the New South Wales and Queensland flooding in March; what six weeks ago was AU$1.055 billion now stands at $751 million. Between March 18 and 24 the East Coast of Australia ... Read the full article
PERILS provides second industry loss estimate of AUD 916m for Australia floods
24th June 2021
Zurich-based catastrophe insurance data provider PERILS has disclosed its second industry loss estimate of AUD 916m for the New South Wales and Queensland floods, which occurred primarily during the period of 18 to 24 March 2021. This compares to the initial loss estimate of AUD 1,055m which was issued by ... Read the full article
PERILS reports insured loss estimate of AUD $1.055bn for East Coast floods
7th May 2021
Zurich-based catastrophe insurance data provider, PERILS, has reported an initial insurance industry loss estimate of AUD $1.055 billion for the New South Wales and Queensland floods, which occurred in March this year. The East Coast of Australia experienced an extreme period of rainfall from 18th to 24th March, which resulted in ... Read the full article
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