Perils AG has released its Industry Exposure Database (IED) 2020, containing updated information about property sums insured and catastrophe risk exposures across several global markets.
The 2020 edition covers the markets of Australia, Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, New Zealand, Norway, Sweden, Switzerland, Turkey and the UK, according to a company statement. Meanwhile, the IED 2020 for Canada will be released by Perils AG subsidiary CatIQ in June.
For the first time, the database incorporated a detailed industry exposure portfolio for the motor line of business in Australia. According to Perils, the IED was produced from the ground-up and is based on up-to-date sums insured information provided over 150 national insurance carriers. These, Perils said, represent over two-thirds of the insurance market across all territories that it covers. The market sums insured are available by CRESTA zone, line of business, and coverage type.
In total, the latest IED includes data 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 of insured property values, or a 4.1% year-on-year increase. Year-on-year variations in Australia, New Zealand, Italy, and Turkey all showed robust sums insured growth between 5% and 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 Perils CEO Luzi Hitz. “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.”
